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TSMC Posts Q4 Revenue Beating Estimates on AI Boom
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Main points
- Taiwan Semiconductor Manufacturing Co.’s fourth-quarter revenue beat Wall Street expectations as the company continues to benefit from the boom in artificial intelligence (AI).
- Shares of the world’s largest contract chipmaker rose 1.5% in premarket trading on Friday following the report.
- TSMC also stated that revenue in 2024 will reach NT$2.89 trillion, an increase of 34% from 2023.
TSMC (TSM) reported fourth-quarter revenue that beat Wall Street expectations, with sales rising 34% in 2024 as the company continues to grow from Artificial Intelligence (AI) Prosperity.
shares in the world’s largest Shares of the contract chipmaker rose 1.25% in premarket trading on Friday following the report.
The company supplies technology giants such as Apple (AAPL) and NVIDIA (NVDA) reported total December quarter revenue of NT$868.46 billion (US$26.35 billion), based on its December revenue of NT$278.16 billion.
The quarterly figure exceeded the consensus estimate of NT$854.82 billion among analysts polled by Visible Alpha.
TSMC also stated that revenue in 2024 will reach NT$2.89 trillion, an increase of 34% from 2023.
TSMC’s numbers are as follows Record Another Taiwanese company, Foxconn, reported fourth-quarter revenue that also benefited from strong demand for artificial intelligence servers. Foxconn assembles Apple iPhones and Nvidia products, among others.
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