TSMC, the world’s largest contract chipmaker, announced record revenue for the third quarter of 2024. The company significantly exceeded both market forecasts and its own expectations, posting impressive revenue growth of 36.5% year-over-year on the back of growing demand for AI chips. This success strengthens TSMC’s position as a key player in the emerging AI industry.
The Taiwanese semiconductor maker, whose clients include tech giants such as Apple, Nvidia and AMD, recorded quarterly revenue of $23.62 billion, beating the $23.33 billion consensus of 23 analysts at global financial analytics provider LSEG SmartEstimate.
Compared to Q3 2023, when TSMC’s revenue was $17.3 billion, growth reached an impressive 36.5%. Moreover, in September of this year, TSMC earned $7.83 billion, which is 39.6% higher than the same period last year. These figures clearly indicate not only the acceleration of growth rates, but also the stable, continuously growing demand for the company’s products.
At its July shareholder meeting, TSMC forecast revenue for the third quarter in the range of $22.4 billion to $23.2 billion. The actual result, however, exceeded even the high end of this forecast by 1.8%, which clearly demonstrates the company’s ability to quickly increase production capacity in response to rapidly growing demand.
It’s worth noting that TSMC did not provide further details in its earnings summary. Nevertheless, the company plans to publish a full financial report for the third quarter, including an updated forecast, on October 17. This report will likely shed light on TSMC’s plans in the context of the development of AI technologies and their impact on the global semiconductor market.
TSMC’s impressive performance has not gone unnoticed on the stock market, with the company’s shares soaring 72% on the Taiwan Stock Exchange since the start of 2024. By comparison, the broader market index rose only 26% over the same period. Such a significant increase in TSMC’s capitalization – 46 percentage points above the market – clearly reflects investor confidence in the company’s bright prospects and its key role in the development of AI.
Image source: Ubisoft Let us remind you that the events of Assassin’s Creed Shadows will…
NASA announced that assembly of the second lunar rocket, SLS (Space Launch System), has begun…
Co-founder and CEO of the Chinese studio Game Science, Feng Ji, hinted that some surprises…
Last Wednesday, trading volume in MicroStrategy shares exceeded that of Nvidia and Tesla. The company,…
The post-apocalyptic open-world shooter S.T.A.L.K.E.R. 2: Heart of Chornobyl from the developers from the GSC…
TSMC's plans for the next couple of years remain largely unchanged - by the end…