TSMC reported third-quarter revenue of $46.72 billion, up 41.2% year over year, and net income of TWD 763.06 billion, up 68.7%, driven by demand for advanced chips in high-performance computing and AI. Gross margin was 66.4%, down 1.3 percentage points as the 2 nm ramp-up diluted margins, while HPC accounted for 68% of revenue. Management raised its 2026 revenue growth outlook to 44% in U.S. dollar terms, reiterated a 2026 capital budget of $60 billion to $64 billion, and guided fourth-quarter revenue to $52.3 billion to $54.3 billion. The company warned that consumer and price-sensitive segments are being challenged, and that gross margin dilution from overseas fabs could widen to 3%-4% in the next few years. Capacity for the N2 family is expected to more than double in 2027, and Arizona Fab 2 is slated to begin volume production in the third quarter of 2027.
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