TSMC exceeded market expectations in the third quarter, driven by growing demand for artificial intelligence, reflecting its good performance in the face of declining post-pandemic demand.
Taiwan Semiconductor Manufacturing (TSMC), the largest chip manufacturer by contract in the world, reported this Wednesday that its third quarter revenue far exceeded both market forecasts and those of the company itself, thanks to the growing demand for artificial intelligence (AI). It is worth remembering that this firm is listed in the local market through its Cedear.
The ashares of the company listed on Wall Street They react to the rise this Wednesday in the New York plaza. Thus, TSMC shares rise 0.7% before the market opens, but the positive balance is close to 20% in the last 30 days.
Taiwan Semiconductor Manufacturing Co, whose clients include Apple (AAPL.O) and Nvidia (NVDA.O), is at the forefront of the move toward AI, lor that has allowed it to resist the decrease in demand driven by the pandemic.
Revenue in the July-September period this year reached T$759.69 billion (US$23.62 billion), according to Reuters calculations, compared with an LSEG SmartEstimate estimate of T$750.36 billion (US$23). .33 billion) carried out by 23 analysts.
The data of the Taiwanese firm
This represents a growth of 36.5% year-on-year, compared to US$17.3 billion in the same period of the previous year. It is not a direct comparison, as TSMC provides monthly income data in Taiwan dollars onlybut it provides quarterly revenue numbers and its outlook on its quarterly earnings calls in US dollars.
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In its last earnings call in July, TSMC forecast third-quarter revenue in a range of $22.4 billion to $23.2 billion. Only in September, TSMC reported that revenue increased 39.6% year-on-year, reaching T$251.87 billion.
The company did not provide details in its brief earnings release. TSMC will report its full third-quarter results on October 17, at which time it will also update its outlook. The company’s shares, listed in Taipei, are up 72% so far this year, compared with a 26% gain for the broader market.
Source: Ambito
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