TSMC (TSM, Financial) shares rose nearly 7% in pre-market trading, surpassing $200, signaling a potential all-time high at market open. The company recently released its Q3 earnings, reporting revenues of approximately 759.69 billion New Taiwan dollars, indicating a year-on-year increase of 39.0% and a sequential growth of 12.8%.
The net profit after tax was around 325.26 billion New Taiwan dollars, exceeding market expectations of 299.3 billion New Taiwan dollars, with a year-on-year increase of 54.2% and a sequential growth of 31.2%. Earnings per share were 12.54 New Taiwan dollars, equivalent to $1.94 per American Depositary Receipt, growing 54.2% year-on-year.
In USD terms, Q3 2024 revenue stood at $23.5 billion, a 36.0% year-on-year increase and a sequential rise of 12.9%. The gross margin for the quarter was 57.8%, with an operating margin of 47.5%, and a net income margin of 42.8%.
TSMC also projected Q4 sales between $26.1 billion and $26.9 billion, surpassing the previously estimated $24.94 billion. The company anticipates a gross margin between 57% and 59%, exceeding the expected 54.7%.
