TAIPEI (Taiwan News) — TSMC released Thursday (Oct. 17) revenues of NT$759.69 billion (US$23.6 billion), marking a 12.8% quarter-on-quarter increase and setting a new quarterly record.

According to a press release, the company's cumulative revenue was NT$2.02 trillion for the first nine months of 2024, a 31.9% year-on-year increase, with a gross margin of 54.9%, roughly the same as the previous year, per CNA.

TSMC’s Q3 performance showed an 11% increase in high-performance computing, a 16% increase in smartphone platforms, a 35% increase in IoT platforms, a 6% increase in automotive electronics, and a 19% decline in consumer electronics platforms.

The contribution from the 3nm (nanometer) process was approximately 20%, 5nm was 32%, and 7nm was 17%. Advanced processes contributed 69% of wafer revenue.

The company said its Q4 revenue is expected to be between US$26.1 billion and US$26.9 billion.