Taiwanese chipmaker TSMC reports 28 percent yr/yr surge in revenues in H1

(MENAFN) Taiwan Semiconductor Manufacturing Co. (TSMC), a global leader in semiconductors, reported a substantial 28 percent year-on-year increase in revenues for the first half of 2024. According to the company's statement released on Wednesday, revenues surged to 1.26 trillion New Taiwanese dollars (USD38.66 billion), up from 989.47 billion New Taiwanese dollars (USD30.36 billion) in the same period last year.

In June alone, TSMC's revenues saw a remarkable uptick of 32.9 percent year-on-year, reaching 207.86 billion New Taiwanese dollars (USD6.4 billion). The company attributes this growth to robust demand across its customer base, which includes major tech giants such as Apple and Nvidia.

TSMC's stock performance has also been notable, with its share price increasing by approximately 85 percent over the past year, climbing from USD100 to around USD185. This reflects investor confidence in the company's strategic positioning within the semiconductor industry amidst global supply chain challenges and increasing demand for advanced chip technologies.

The firm's strong financial performance underscores its pivotal role in the global semiconductor market, highlighting ongoing innovations and capacity expansions aimed at meeting growing industry demands and maintaining its competitive edge in the technology sector.

MENAFN10072024000045015839ID1108425932