TAIPEI (Reuters) – TSMC, the world’s largest semiconductor supplier, posted fourth-quarter revenue well above market forecasts on Friday, driven by demand for artificial intelligence (AI).
The turnover for the period from October to December 2024 amounted to 868.42 billion Taiwan dollars (25.60 billion euros), an increase of 34.4% year-on-year, according to the Reuters calculations.
This amount exceeds the estimate of analysts who expected 853.57 billion Taiwan dollars.
TSMC, whose customers include Apple and Nvidia, has benefited from the strong appeal of AI, offsetting slowing demand for chips for consumer electronics devices, such as tablets.
The company did not provide additional details on its results in its brief statement, but indicated that for the month of December 2024, its revenue jumped 57.8% compared to the previous year, reaching NT$278.16 billion.
-Other Taiwanese companies, such as Foxconn, have also seen good results thanks to the rise of AI.
TSMC will release its full results and update its guidance for the current quarter and full year on January 16.
(Written by Ben Blanchard and Faith Hung, French version Noémie Naudin, edited by Kate Entringer)
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