TSCM grows revenue by 56% despite industry crisis - the company earned $6.6 billion in a month

Despite the downturn in the semiconductor market, Taiwan Semiconductor Manufacturing Company (TSMC) was able to increase revenues by more than one and a half times in October.

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In the third quarter of 2022, the Taiwanese company's total revenue rose 36% over the third quarter of 2021 to $20.23 billion. The manufacturer also had a successful start to the new period.

During the second month of fall, which is the first month of the fourth quarter, TSMC's revenue was $6.6 billion, up 56% from October last year. Since January, the company's revenue has grown 44%.

Despite this, TSMC's share price has fallen by almost a third since the beginning of the year. The company admits lower demand for 7nm chips for smartphones and personal computers, so capital spending will be cut by $4 billion (10%). Nevertheless, the chipmaker is optimistic about its future and will soon begin construction of a plant in Arizona that will produce advanced 3-nm chips. The company will invest $12 billion in the plant.

Going back to the topic of finance, TSMC management believes that the revenue of $6.6 billion is fully in line with the plans. In the fourth quarter of 2022, the company wants revenues of $19.9 billion to $20.7 billion and a profit margin of 59.5 to 61.5 percent.

Source: Bloomberg