TSMC october revenue rose 56% year-on-year

After the October 2022 revenue report was disclosed yesterday, TSMC's Taiwan stock price rose as high as 8.5% today and closed up 8.3% at NT$441.50 (about 101 yuan), a record high. The biggest one-day percentage gain since July 2020.

Citi analysts said, while TSMC will not be immune to the global economic slowdown, we believe its position remains intact given its technological leadership.

The financial report shows that TSMC's consolidated revenue in October 2022 was about NT$210.266 billion, an increase of 1.0% month-on-month and a year-on-year increase of 56.3%. In the first ten months of this year, TSMC's cumulative revenue was NT$1.85 trillion, a year-on-year increase of 44.0%.

The latest data from Strategy Analytics shows that TSMC's market share in smartphone AP foundry will reach a record high of about 85% in 2022.

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