The logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the opening ceremony of the TSMC Global Research and Science Center in Hsinchu, July 28, 2023. (Photo: Amber Wang/AFP)
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A Taiwanese semiconductor companyfourth quarter revenue and profit exceeded expectations as demand for advanced chips used in artificial intelligence applications continued to increase.
Here are TSMC's fourth-quarter results compared to LSEG consensus estimates:
- Net revenue: 868.46 billion New Taiwan dollars ($26.36 billion) compared with the expected NT$850.08 billion
- Net profit: NT$374.68 billion compared to expected NT$366.61 billion
TSMC's December quarter revenue was up 38.8% year-over-year, and net profit was up 57%.
The company forecast fourth-quarter revenue of $26.1 billion to $26.9 billion.
TSMC, the world's largest contract chipmaker, produces advanced processors for customers such as Nvidia AND Apple and took advantage of the megatrend for artificial intelligence.
Business released it posted December revenue last week, bringing its annual total to NT$2.9 trillion – marking a record sales year since the company went public in 1994.
The company will face some headwinds in 2025 related to U.S. export controls to China and uncertainty over the trade policy of President-elect Donald Trump, who has threatened to impose sweeping tariffs and also accused Taiwan of “stealing” the U.S. chip business.
Taiwan-listed TSMC shares are up 81% in 2024 and were trading at 3.75% on Thursday.