Taiwan Semiconductor (NYSE:TSM) earnings for the tech company’s third quarter of 2020 have TSM stock on the move Thursday. This comes after reporting diluted earnings per share of NT$5.30 and revenue of NT$356.43 billion.
Let’s take a deeper dive into the most recent Taiwan Semiconductor earnings report below.
- Diluted per-share earnings are up 35.9% from NT$3.90 in the same period of the year prior.
- Revenue for the quarter comes in 21.6% higher than the NT$293.05 billion from the third quarter of 2019.
- Operating income of NT$150.05 billion is a 39.1% increase year-over-year from NT$107.89 billion.
- The Taiwan Semiconductor earnings report also includes a net income of NT$137.31 billion.
- That’s a 35.9% jump from its net income of NT$101.07 billion.
Wendell Huang, vice president and CFO of Taiwan Semiconductor, said this in the earnings report.
“Our third quarter business benefitted from the strong demand for our advanced technologies and specialty technology solutions, driven by 5G smartphones, HPC and IoT-related applications. Moving into fourth quarter 2020, we expect our sequential growth to be supported by strong demand for our industry-leading 5- nanometer technology, driven by 5G smartphone launches and HPC-related applications.”
Taiwan Semiconductor also includes guidance for Q4 in its earnings report. It’s expecting revenue of range from $12.4 billion to $12.7 billion. Wall Street estimate is for revenue of $11.71 billion during the quarter.
TSM stock was down slightly as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2020/10/taiwan-semiconductor-earnings-q3-highlights/.
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