{"id":8857,"date":"2024-10-19T11:38:02","date_gmt":"2024-10-19T11:38:02","guid":{"rendered":"https:\/\/digitaltradecenter.com\/index.php\/2024\/10\/19\/tsmc-posts-strong-q3-performance-despite-us-export-ban-probe\/"},"modified":"2024-10-19T11:38:02","modified_gmt":"2024-10-19T11:38:02","slug":"tsmc-posts-strong-q3-performance-despite-us-export-ban-probe","status":"publish","type":"post","link":"https:\/\/digitaltradecenter.com\/index.php\/2024\/10\/19\/tsmc-posts-strong-q3-performance-despite-us-export-ban-probe\/","title":{"rendered":"TSMC Posts Strong Q3 Performance Despite US Export Ban Probe"},"content":{"rendered":"

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.<\/strong><\/p>\n

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.<\/p>\n

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

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.<\/p>\n<\/p>\n

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\u2019s wafer revenue.<\/p>\n

In addition, advanced technologies \u2014 defined by TSMC as 7 nanometer and more advanced processes \u2014 generated 69 percent of the tech behemoth’s wafer revenue during the quarter.<\/p>\n

Looking ahead to the year’s final quarter, TSMC expects continued demand for its advanced process technologies to drive revenue growth. The company\u2019s 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.<\/p>\n

While TSMC\u2019s 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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 <\/p>\n","protected":false},"author":1,"featured_media":8858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-8857","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/8857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/comments?post=8857"}],"version-history":[{"count":0,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/8857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media\/8858"}],"wp:attachment":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media?parent=8857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/categories?post=8857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/tags?post=8857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}