Summary by Moomoo AI
Taiwan Semiconductor Manufacturing Company Ltd. (TSMC) reported a robust financial performance for the third quarter of 2024, with significant year-over-year and sequential growth. The company announced on October 17, 2024, that its consolidated revenue reached NT$759.69 billion, representing a 39.0% increase from the same period last year and a 12.8% rise from the second quarter of 2024. Net income saw an even more impressive surge, climbing 54.2% year-over-year to NT$325.26 billion, and earnings per share (EPS) followed suit, increasing to NT$12.54. In US dollar terms, revenue stood at $23.50 billion for the quarter. TSMC's gross margin was reported at 57.8%, with an operating margin of 47.5% and a net profit margin of 42.8%. The company's advanced technologies, particularly the 3-nanometer and 5-nanometer processes, were in high demand, accounting for 52% of total wafer revenue. Looking ahead, TSMC anticipates continued strong demand for its cutting-edge technologies, projecting fourth-quarter revenue to be between US$26.1 billion and US$26.9 billion, with gross and operating profit margins expected to remain robust.
