An Rong Xu / Bloomberg through Getty Images
Takeaways from the Key Notes
- Taiwan Semiconductor Manufacturing Co. reported fourth-quarter revenues that exceeded Wall Street expectations as the company continues to benefit from the AI boom.
- Shares in the world's largest contract chip manufacturer are rising 1.5% in premarket trading Friday after the report.
- TSMC’s 2024 revenues came in at NT$2.89 billion, a surge of 34% over 2023.
Taiwan Semiconductor Manufacturing Co. posted a 4th-quarter revenue which exceeded Wall Street’s estimates, and an increase in sales of 34 percent by 2024. This company is continuing to profit from the AI (artificial intelligence) boom.
Following the publication of this report, the shares of the world’s largest contract chips manufacturer rose by 1.25% during premarket trading on Friday.
This company supplies major tech companies such as Apple, Nvidia and AMD (NVDA). The total revenue in the quarter ended December was NT$868.46 ($26.35) billion.
Visible Alpha, a poll of investors and analysts, had predicted NT$854.82bn for the quarter.
TSMC’s 2024 revenues came in at NT$2,89 billion, a surge of 34% over 2023.
TSMC has posted record numbers, following Foxconn. Another Taiwanese company, Foxconn also reported record revenue in the fourth quarter, largely due to strong demand for AI-based servers. Foxconn manufactures Apple iPhones as well as Nvidia’s products.
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