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

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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