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Photo = TSMC |
[Alpha Biz= Reporter Kim Sangjin] Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest semiconductor foundry, saw its shares surge on October 17 (local time) in New York after reporting better-than-expected quarterly earnings.
As of 11:11 AM Eastern Time (8:11 AM Pacific Time), TSMC's stock was trading at $212.36, up 13.27% from the previous day. The stock opened at $203.35, an 8% rise, and continued its upward momentum.
The company’s market capitalization also surged to $1.101 trillion, comfortably surpassing the $1 trillion mark.
TSMC's stock rally follows its strong Q3 results, which exceeded market expectations. The company reported a net profit of TWD 325.26 billion (about KRW 13.8 trillion), a 54.2% increase year-over-year, surpassing the market forecast of TWD 300 billion (around KRW 12.7 trillion) projected by research firm LSEG.
Revenue rose 39% to TWD 759.69 billion (approximately KRW 32.3 trillion), also beating expectations.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
