Taiwan Semiconductor Manufacturing Company reported double-digit growth in both its top and bottom line in the third quarter, driven by the strong performance of its core businesses.

  • Net sales for the quarter stood at NT$414.781 billion, up 16.3% from $356.426 billion the same quarter last year and 11.4% higher than the $372.145 billion the previous quarter.
  • Net income climbed to $156.259 billion, up 13.8% from the $137.310 billion a year ago and 16.3% from $134.359 the previous quarter. Earnings per share jumped to $6.03 from $5.30 the previous year and $5.18 the previous quarter.
  • TSMC expects fourth-quarter revenue between $15.4 billion and $15.7 billion, gross profit margin between 51% and 53%, and operating margin likely to come between 39% to 41%.
  • TSMC Chief Financial Officer Wendell Huang said third-quarter business was driven by growth in the smartphone, HPC, IoT, and automotive-related applications. Growth is expected to be sustained in the fourth quarter.

The guidance includes expenses involving the company’s vaccine donations, which impacted the operating margin by approximately one percentage point. TSM is up 3.71% premarket.