Mayfair International Capital - Electronics Company in Taiwan Delivers a Beat-and-Raise Q3 Report

Taiwan Semiconductor Manufacturing (TSM), the world's largest contract chipmaker, surpassed analyst expectations for the third period on Thursday. TSM's shares surged in response to the announcement.
KOWLOON, Hong Kong - Nov. 9, 2023 - PRLog -- In the September quarter, the business, commonly known as TSMC, earned $1.29 per US share on sales of $17.28 billion. FactSet polled analysts, who predicted earnings of $1.16 per share on sales of $16.97 billion. TSMC's profits, on the other hand, declined 24% year on year, while sales fell 10%.

TSMC's results represented the company's third consecutive quarter of dropping sales and profitability as its customers deal with a drop in chip demand. Customers of TSMC include Apple (AAPL), AMD (AMD), Nvidia (NVDA), Qualcomm (QCOM), and others.

TSMC forecasts sales of $18.8 billion to $19.6 billion for the current quarter. The midpoint of $19.2 billion is more than the $18.54 billion projection set by Wall Street. TSMC made $20.54 billion in revenue in the fourth quarter of last year.

TSM Stock Rises Following Report

TSM stock rose 3.7% today to settle at 92.91 on the stock exchange.

"Our third-quarter business was supported by the strong ramp of our industry-leading 3-nanometer technology and increased demand for 5-nanometer technologies, partially offset by customers' ongoing inventory adjustment," said Wendell Huang, Chief Financial Officer. Chip circuit widths are measured in nanometers, which is one billionth of a meter.

The CEO stated, "Moving into fourth quarter 2023, we expect our business to be supported by the continued strong ramping of our 3-nanomenter technology, partially offset by customers' continued inventory adjustment."

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