Asia Tech Wire (July 18) -- TSMC on Thursday reported its net profit for the second quarter of the year at NT$247.8 billion (US$7.6 billion), beating estimates of NT$235 billion.

The world's largest contract chipmaker realized sales of NT$673.51 billion (US$20.58 billion) in the quarter, compared with estimates of NT$658.14 billion.

TSMC said in its latest earnings report that 3nm process technology contributed 15% of total wafer revenue for the quarter.

In addition, 5nm and 7nm processes contributed 35% and 17% of total wafer revenue in the second quarter, respectively.

TSMC expects third-quarter sales of $22.4 billion to $23.2 billion, and projects capital expenditures of $30 billion to $32 billion for the full year of 2024, which is higher than the market estimate of $29.55 billion.