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The Taipei-listed stock of the company has climbed by 72% this year, outpacing the market's 26% increase for the broader market

Taiwan’s contract chipmaker company, TSMC reported its third-quarter revenue on October 9 which surpassed the market as well as the company’s forecast.

In 2024, the revenue from July-September stood at T$759.69 billion ($23.62 billion) compared with an LSEG SmartEstimate of T$750.36 billion ($23.33 billion).

It represents a growth of 36.5% on-year compared with $17.3 billion from the previous year.

TSMC Earnings in July Between $22.4 Billion to US$23.2 Billion

During its recent earnings in July, TSMC projected a Q3 revenue in a range between US$22.4 billion to US$23.2 billion.

The customers of Taiwan Semiconductor Manufacturing Co. are Apple and Nvidia. Apple and Nvidia are at the forefront of the artificial intelligence revolution. These companies have led to significant growth, especially during the pandemic.

TSMC Revenue in September Increased by 39.6%

In September, TSMC reported that its revenue increased by 39.6% compared to the previous year, reaching T$251.87 billion.

The company did not provide details of the revenue in its revenue statement.

TSMC is set to announce its third-quarter earnings on October 17, along with providing an update on its future expectations.

The Taipei-listed stock of the company has climbed by 72% this year, outpacing the market's 26% increase for the broader market. The stock closed by 1% increase on October 8 amid the release of its third-quarter earnings.

TSMC only shares its monthly revenue information in Taiwan dollars, whereas it offers its quarterly revenue statistics and projections in US dollars.