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TSMC Reports Record Sales for March

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April 14, 2024

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Taiwan Semiconductor Manufacturing Company (TSMC) reported a significant increase in revenue for January 2024, reaching approximately NT$195.21 billion (about US$6.04 billion). This marked a notable 34.3 percent surge compared to the same period in March 2023. Sequentially, TSMC's sales were up by 7.9 percent, reflecting a strong start to the year.

For the first quarter of the year, TSMC's total sales amounted to NT$592.64 billion (about US$18.33 billion), falling within the guidance range provided alongside the company's 4Q23 financial results. The steady performance in the first quarter indicates a positive outlook for TSMC's financial trajectory in the coming months.

While no specific reason was provided for the remarkable revenue growth, TSMC has previously alluded to the increasing demand for AI chips as a key factor driving the sustained interest in leading-edge manufacturing processes. This trend is likely to continue shaping the company's performance in the semiconductor market.

Meanwhile, United Microelectronics Corporation (UMC), another Taiwanese foundry, reported net sales of approximately NT$18.17 billion (about US$560 million) in the same period. UMC's sales saw a modest increase of 2.7 percent, with the year-to-date figure showing a 0.8 percent uptick, indicating a stable performance for the company.

In conclusion, TSMC's robust revenue growth in January 2024 and solid sales performance in the first quarter underscore the company's position as a key player in the semiconductor industry. The sustained demand for AI chips and leading-edge manufacturing processes continues to drive TSMC's success. Similarly, UMC's steady sales performance reflects a consistent presence in the market. Both companies are poised to navigate the evolving landscape of semiconductor technology and maintain their competitive edge in the coming months.

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