Taiwan Semiconductor (TSM) Stock Drops 3% Even After a Record Quarter
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TLDR TSM stock was down $15.12, or 3%, on Thursday despite a third-quarter beat. Net profit rose 68.7% to NT$763.1 billion, topping the NT$746.34 billion estimate. Revenue grew 41.2% to NT$1.49 trillion, ahead of the NT$1.47 trillion forecast. Operating margin came in at 58.7%, above the top of TSMC’s guidance range. TSMC is reportedly weighing a possible Texas investment beyond its Arizona plans. TSM stock was down $15.12, or 3%, on Thursday after Taiwan Semiconductor posted record third-quarter results . The drop came even though both revenue and profit topped estimates. Taiwan Semiconductor Manufacturing Company Limited, TSM Net profit reached NT$763.1 billion, up 68.7% from a year earlier. Analysts had expected NT$746.34 billion, based on LSEG SmartEstimates. Revenue rose 41.2% to NT$1.49 trillion, or roughly $46.4 billion.
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