Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

TSMC Posts Strong Q3 Performance Despite US Export Ban Probe

by admin October 19, 2024
October 19, 2024
TSMC Posts Strong Q3 Performance Despite US Export Ban Probe

Global chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM,TPE:2330) reported strong Q3 results despite ongoing controversies over alleged violations of US export controls.

The company’s consolidated revenue for the quarter reached 759.69 billion New Taiwan dollars, up 39 percent year-on-year, while its net income rose 54.2 percent to total 325.26 billion New Taiwan dollars.

In US dollar terms, TSMC’s Q3 revenue came in at at US$23.5 billion, a 36 percent year-on-year rise.

Wendell Huang, senior vice president and CFO of TSMC, said on Thursday (October 17) that a key driver of the firm’s Q3 success was strong demand for its advanced 3 nanometer and 5 nanometer technologies.

These cutting-edge manufacturing processes, used in the production of chips for smartphones and artificial intelligence applications, accounted for a significant portion of the company’s wafer revenue.

In addition, advanced technologies — defined by TSMC as 7 nanometer and more advanced processes — generated 69 percent of the tech behemoth’s wafer revenue during the quarter.

Looking ahead to the year’s final quarter, TSMC expects continued demand for its advanced process technologies to drive revenue growth. The company’s management has provided a financial outlook that anticipates Q3 revenue of between US$26.1 billion and US$26.9 billion, reflecting further growth compared to the third quarter.

While TSMC’s financial performance continues to impress, the company is currently the subject of a US Department of Commerce investigation that is seeking to establish whether TSMC is working with Chinese tech giant Huawei.

The inquiry follows concerns that TSMC may be indirectly supplying chips to Huawei through intermediary companies, despite a 2020 ban that restricts the Chinese firm from accessing semiconductors made with US technology.

TSMC has issued a statement affirming its commitment to complying with international regulations. The company has also pledged to take ‘prompt action’ to investigate any potential issues and ensure adherence to US export controls.

TSMC’s previous collaboration with Huawei was halted after the US government tightened restrictions on the Chinese company as part of national security measures.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
How to Invest in AlphaFold Stock
next post
Bold Ventures Announces Final Closing of Non-Brokered Private Placement and Insider Subscriptions

You may also like

Garrett Goggin: Is Warren Buffett Coming for Newmont?

March 11, 2025

Pine Point Mining Limited and the Town of...

November 11, 2024

Joe Cavatoni: Gold’s Record Run No Surprise, Here’s...

May 7, 2025

Stefan Gleason: Gold, Silver Fireworks Ahead — Best...

September 12, 2024

Eskay Mining Wraps Up Summer Exploration, Prepares for...

August 27, 2024

Syntheia Rings the Opening Bell on the Canadian...

November 21, 2024

NevGold Announces Entry Into Standstill With GoldMining

August 28, 2025

Freegold Extends Mineralization to the West and SouthWest...

January 14, 2025

How to Invest in Gene Stocks and ETFs

August 29, 2025

Lode Gold Identifies New High Priority RIRGS Target...

October 15, 2024

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.