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Taiwan Semiconductor Tops Third-Quarter Earnings Target On 5G Lift
PATRICK SEITZ
09:50 AM ET 10/15/2020
Taiwan Semiconductor Manufacturing (TSM), the world's leading chip foundry, on Thursday beat Wall Street's targets for the third quarter. The earnings news left TSM stock near the break-even point in morning trades.
Taiwan Semiconductor earned 90 cents per American depositary receipt on sales of $12.14 billion in the September quarter. Analysts expected the company to earn 81 cents a share on sales of $11.93 billion, according to S&P Global Market Intelligence. In the year-earlier period, it earned 62 cents per U.S. share on sales of $9.45 billion.
In local currency, Taiwan Semiconductor sales rose 14.7% from the second quarter and 21.6% from the year-earlier period.
"Our third-quarter business benefitted from the strong demand for our advanced technologies and specialty technology solutions, driven by 5G smartphones, HPC (high-performance computing) and IoT (Internet of Things) applications," Chief Financial Officer Wendell Huang said in a news release.....
5G Smartphones, High-Performance Computing Driving Sales
TSM Stock Falls On Taiwan Semiconductor Earnings News
Taiwan Semiconductor Outlook Tops Consensus Estimates
https://www.investors.com/news/technolog...src=A00220
PATRICK SEITZ
09:50 AM ET 10/15/2020
Taiwan Semiconductor Manufacturing (TSM), the world's leading chip foundry, on Thursday beat Wall Street's targets for the third quarter. The earnings news left TSM stock near the break-even point in morning trades.
Taiwan Semiconductor earned 90 cents per American depositary receipt on sales of $12.14 billion in the September quarter. Analysts expected the company to earn 81 cents a share on sales of $11.93 billion, according to S&P Global Market Intelligence. In the year-earlier period, it earned 62 cents per U.S. share on sales of $9.45 billion.
In local currency, Taiwan Semiconductor sales rose 14.7% from the second quarter and 21.6% from the year-earlier period.
"Our third-quarter business benefitted from the strong demand for our advanced technologies and specialty technology solutions, driven by 5G smartphones, HPC (high-performance computing) and IoT (Internet of Things) applications," Chief Financial Officer Wendell Huang said in a news release.....
5G Smartphones, High-Performance Computing Driving Sales
TSM Stock Falls On Taiwan Semiconductor Earnings News
Taiwan Semiconductor Outlook Tops Consensus Estimates
https://www.investors.com/news/technolog...src=A00220
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