Tuesday, 02 January 2024 12:17 GMT

TSMC Reports Record Q1 Revenue


(MENAFN) Taiwan Semiconductor Manufacturing Company (TSMC), the globe’s biggest contract semiconductor producer, announced record-breaking revenue for the first quarter on Friday, backed by sustained robust demand for cutting-edge chips utilized in artificial intelligence workloads.

The firm reported that revenue for the January–March period reached 1.13 trillion New Taiwan dollars (approximately $35.6 billion), marginally exceeding market expectations of $35.2 billion.

In March alone, revenue surged 45.2% compared with the same month a year earlier, reaching $13.1 billion, highlighting ongoing strong appetite for premium-grade semiconductors.

TSMC has become a key winner in the worldwide AI expansion, manufacturing advanced chips for major tech companies including Apple and Nvidia, as these firms continue to channel significant investments into AI infrastructure and large-scale data center development.

The latest sales performance also reflects continued robustness in high-end chip demand, despite wider concerns about potential supply chain disruptions stemming from tensions in the Middle East and possible knock-on effects on global technology consumption.

TSMC, which provides monthly revenue updates but only releases detailed profitability information in its quarterly earnings reports, is expected to publish its full first-quarter financial results on April 16.

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