Changes in US stocks | Q3 results and Q4 guidance both surpassed market expectations, and TSM.US surged more than 10%

The Zhitong Finance App learned that on Thursday, TSM.US (TSM.US) opened with a sharp rise of more than 10%, and its stock price reached a record high of 200 US dollars. As of press time, it had risen 10.59% to 207.33 US dollars. According to the news, on the afternoon of October 17, TSMC disclosed its third quarter earnings report. The results greatly exceeded market expectations, indicating that demand for AI is still strong. Specifically, the company's net profit for the third quarter reached NT$325.3 billion, up 54% year on year, up 31.2% from the second quarter, exceeding market expectations of NT$299.3 billion; consolidated revenue for the third quarter was NT$759.7 billion, up 39% year on year, up 12.8% from the second quarter, exceeding the estimate of NT$751 billion. Earnings per share were NT$12.54, up 54.2% year over year.

In terms of performance guidance, TSMC expects fourth-quarter sales of US$26.1 billion to US$26.9 billion, exceeding market estimates of US$24.94 billion; gross margin for the fourth quarter is expected to be 57% to 59%, compared to the market estimate of 54.7%; in US dollars, TSMC expects sales to increase by nearly 30% for the whole of 2024, a sharp increase from the previously anticipated maximum growth rate of around 20%. According to TSMC, capital expenditure in 2024 is expected to be slightly higher than US$30 billion, and capital expenditure in 2025 is likely to be higher than 2024.

Today, TSMC Chairman Wei Zhejia publicly emphasized that “artificial intelligence is real,” saying that demand for artificial intelligence has only just begun, and the business is expected to continue to be supported by strong demand for cutting-edge process technology in the fourth quarter.