Taiwan Semiconductor (NYSE:TSM) stock is on the move Thursday thanks to results from its third quarter of 2021.
Let’s jump into that earnings report below to see why holders of TSM stock are excited today.
- Taiwan Semiconductor reported earnings per share of $1.08 for the third quarter of the year.
- That’s better than Wall Street’s estimate of $1.04 for the period.
- It’s also a 13.8% increase from the same time last year.
- Revenue reported during the most recent quarter was $14.88 billion.
- That beats out analysts’ revenue estimate of $14.83 for the quarter.
- It also represents a 22.6% increase year-over-year.
- The positive earnings also got a hand from Taiwan Semiconductor’s outlook for Q4 2021.
- This has it expecting revenue to range from $15.4 billion to $15.7 billion.
- That’s looking good next to Wall Street’s Q4 revenue estimate of $15.46 billion.
- TSM doesn’t provide an EPS guidance for Q4 but we know analysts’ are looking for $1.09 per share.
Wendell Huang, vice president and CFO of Taiwan Semiconductor, said the following about the earnings report boosting TSM stock higher today.
“Our third quarter business was mainly supported by strong demand across all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications. Moving into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm technology.”
TSM stock is seeing heavy trading today following the release of its Q3 earnings report. As a result, some 9 million shares of the stock are changing hands. That’s already above its daily average trading volume of about 7.8 million shares.
TSM stock was up 2.3% as of Thursday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.