KEY TAKEAWAYS
- Taiwan Semiconductor Manufacturing Co. posted fourth-quarter revenue that beat Wall Street estimates as the company keeps gaining from the artificial intelligence (AI) boom.
- Shares in the world’s largest contract chip manufacturer are rising 1.5% in premarket trading Friday after the report.
- TSMC also said its 2024 revenue came to NT$2.89 trillion, a 34% surge from 2023 numbers.
Taiwan Semiconductor Manufacturing Co. (TSM) posted fourth-quarter revenue that beat Wall Street estimates and a 34% jump in 2024 sales, as the company keeps gaining from the artificial intelligence (AI) boom.
Shares in the world’s largest contract chip manufacturer are rising 1.25% in premarket trading Friday after the report.
The company, which supplies tech heavyweights such as Apple (AAPL) and Nvidia (NVDA), posted total revenue for the December quarter at NT$868.46 billion ($26.35 billion), a calculation based on its announcement of December revenue of NT$278.16 billion.
The quarterly figure beat the NT$854.82 billion consensus estimate of analysts polled by Visible Alpha.
TSMC also said its 2024 revenue came to NT$2.89 trillion, a 34% surge from 2023 numbers.
TSMC’s numbers follow record fourth-quarter revenue posted by Foxconn, another Taiwanese firm, also on the back of robust demand for AI servers. Foxconn assembles Apple iPhones and Nvidia products, among other things.
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