TSMC July Revenue Hits Record NT$467.5 Billion! Third Consecutive Monthly Record, Q3 High Hopes Rise

TSMC's revenue peak continues to climb. TSMC announced today (10th) its consolidated revenue for July 2026 was approximately NT$467.58 billion, an increase of 5.6% from the previous month and 44.7% year-on-year. This not only sets a new monthly revenue record but also marks the third consecutive month of record-breaking performance. Cumulative revenue from January to July reached approximately NT$2.872064 trillion, up 37.0% year-on-year. After Q2 revenue just surged to around NT$1.27 trillion, setting a quarterly record, July’s revenue opened Q3 strongly above June’s level, further boosting market expectations for another record-high quarterly performance.

July Revenue Hits NT$467.5 Billion, Setting Another Record – Third Consecutive Month of Growth

TSMC’s July revenue reached a new high, continuing the strong momentum seen since May and June. Looking back at recent performance, TSMC achieved NT$416.975 billion in May, already setting a new monthly high. June revenue further rose to NT$442.68 billion, up 6.2% month-on-month and 67.9% year-on-year, pushing Q2 revenue to a record high. July revenue climbed again to NT$467.58 billion, indicating that despite a high base, revenue continues to rise.

In other words, TSMC has now set a new monthly revenue record for three consecutive months since May, with monthly revenue rising from above NT$410 billion to above NT$460 billion. The market widely attributes this revenue surge to sustained demand for AI chips, high-performance computing (HPC), advanced processes, and advanced packaging. However, whether this growth can continue depends on AI customer procurement rhythms, capacity allocation, and exchange rate fluctuations.

Strong Q3 Start – Hopes for Another Quarterly Record Rise

After TSMC released June revenue, Q2 revenue was officially confirmed. With April revenue at NT$410.726 billion, May at NT$416.975 billion, and June at NT$442.68 billion, Q2 total revenue reached approximately NT$1.270381 trillion, up about 12% from Q1’s NT$1.134103 trillion, setting a new quarterly record.

Now, in the first month of Q3, TSMC’s July revenue reached NT$467.58 billion, contributing over 30% of the revenue needed to surpass Q2’s high. To exceed Q2’s NT$1.270381 trillion, August and September combined would need approximately NT$802.801 billion, averaging about NT$401.4 billion per month. Given that TSMC’s monthly revenue has consistently exceeded NT$400 billion in recent months, the visibility for Q3 to set another quarterly record has further increased.

However, whether Q3 can rewrite the record depends on the performance in the next two months. The market will now watch whether August and September can maintain the NT$400 billion+ level and further examine whether demand for AI, HPC, 3nm process, and CoWoS advanced packaging continues to support TSMC’s revenue growth.

First Seven Months Revenue Nears NT$2.9 Trillion – Year-on-Year Growth Expands to 37%

In terms of cumulative revenue, TSMC’s January–July revenue reached NT$2.872064 trillion, up 37.0% year-on-year. This not only approaches the NT$2.9 trillion mark but also expands the year-on-year growth rate from H1’s 35.6%. This indicates that July’s record-high monthly revenue not only raised the monthly benchmark but also boosted the full-year cumulative growth trajectory.

TSMC previously stated in its earnings call that AI applications are shifting from generative AI and 'query mode' to agent AI and 'command and execution mode,' increasing token consumption in large language models and further driving demand for computing power and advanced semiconductors. With July revenue hitting another high, the market will continue to assess whether this AI demand can translate into actual shipments and revenue growth in the second half.

Stock Price Opens High, Pulls Back but Closes Up – Short-Term Chasing Caution

On the stock price front, TSMC opened at NT$2,390 today, peaking at NT$2,410 intraday, but later narrowed gains, closing at NT$2,380, up NT$10 (0.42%), with a trading volume of 18,833 shares and transaction value of approximately NT$45.024 billion. Since revenue announcements are typically made after market close, today’s stock price reflects market anticipation of AI demand and high revenue before the official release.

However, although TSMC closed up, the price retreated from its intraday high, indicating relatively conservative short-term buying momentum. Especially as TSMC’s stock price is already at a high level and market expectations post-earnings call have been gradually digested, investors are more focused on whether second-half revenue can continue to set new highs and whether high capital expenditure, overseas expansion, and advanced process mass production will pressure gross margins.

August and September Revenue Key – Market Closely Watching AI and Advanced Process Momentum

TSMC’s July revenue once again set a new monthly high, giving Q3 a strong start. Going forward, whether August and September revenue can maintain high levels will directly determine if Q3 can set another quarterly record. If TSMC’s monthly revenue continues to stay above NT$400 billion, Q3 revenue has the potential to extend Q2’s record-breaking trend, further boosting full-year cumulative revenue performance.

For the market, the focus on TSMC is no longer just whether monthly revenue hits a record, but whether high growth can be sustained. AI chips, HPC, 3nm and 2nm capacity deployment, CoWoS advanced packaging supply and demand, overseas expansion progress, and gross margin changes will all be core indicators for institutional investors assessing TSMC’s second-half growth momentum. July’s record-high revenue has already set a high bar for Q3; whether the next two months can sustain this momentum will be the next hurdle for TSMC’s revenue to break records again.