电子行业周观点:台积电业绩超预期 AI产业链高景气

国盛证券
Jul 20, 2025

AI 高需求驱动,台积电25Q2 业绩超预期。台积电发布25Q2 业绩,以美元计数,25Q2 营收达300.7 亿美元,超指引上限(284 亿-292 亿美元),qoq+17.8%,yoy+44.4%;毛利率为58.6%,qoq-0.2ppts,yoy+5.4ppts,符合指引( 57.0%-59.0% );营业利润率为49.6% ,qoq+1.1ppts ,yoy+7.1ppts,超指引上限(...

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