TSMC reports strong earnings in Q3 ’24

Taiwan Semiconductor Manufacturing Company (TSMC) reported strong financial results for Q3 2024, with revenue of NT$759.69 billion, net income of NT$325.26 billion, and diluted earnings per share of NT$12.54.

Compared to the same period last year, TSMC’s third-quarter revenue increased by 39.0 per cent, while net income and diluted EPS surged by 54.2 per cent. Sequentially, revenue rose by 12.8 per cent, and net income grew by 31.2 per cent.

“Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies,” said Wendell Huang, Senior VP and Chief Financial Officer of TSMC.

Looking ahead, the company expects revenue to range between $26.1 billion and $26.9 billion, with a gross profit margin of 57.0 per cent to 59.0 per cent and an operating profit margin of 46.5 per cent to 48.5 per cent.

Attribution: Taiwan Semiconductor Manufacturing Company report

Subediting: M. S. Salama