World chipmaker Taiwan Semiconductor Manufacturing Firm (TSMC) (NYSE:TSM,TPE:2330) reported sturdy Q3 outcomes regardless of ongoing controversies over alleged violations of US export controls.
The corporate’s consolidated income for the quarter reached 759.69 billion New Taiwan {dollars}, up 39 p.c year-on-year, whereas its internet revenue rose 54.2 p.c to whole 325.26 billion New Taiwan {dollars}.
In US greenback phrases, TSMC’s Q3 income got here in at at US$23.5 billion, a 36 p.c year-on-year rise.
Wendell Huang, senior vice chairman and CFO of TSMC, stated on Thursday (October 17) {that a} key driver of the agency’s Q3 success was sturdy demand for its superior 3 nanometer and 5 nanometer applied sciences.
These cutting-edge manufacturing processes, used within the manufacturing of chips for smartphones and synthetic intelligence purposes, accounted for a good portion of the corporate’s wafer income.
As well as, superior applied sciences — outlined by TSMC as 7 nanometer and extra superior processes — generated 69 p.c of the tech behemoth’s wafer income in the course of the quarter.
Looking forward to the yr’s ultimate quarter, TSMC expects continued demand for its superior course of applied sciences to drive income progress. The corporate’s administration has offered a monetary outlook that anticipates Q3 income of between US$26.1 billion and US$26.9 billion, reflecting additional progress in comparison with the third quarter.
Whereas TSMC’s monetary efficiency continues to impress, the corporate is at the moment the topic of a US Division of Commerce investigation that’s in search of to determine whether or not TSMC is working with Chinese language tech big Huawei.
The inquiry follows issues that TSMC could also be not directly supplying chips to Huawei by middleman firms, regardless of a 2020 ban that restricts the Chinese language agency from accessing semiconductors made with US expertise.
TSMC has issued a press release affirming its dedication to complying with worldwide laws. The corporate has additionally pledged to take “immediate motion” to research any potential points and guarantee adherence to US export controls.
TSMC’s earlier collaboration with Huawei was halted after the US authorities tightened restrictions on the Chinese language firm as a part of nationwide safety measures.
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Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
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