Taiwan Semiconductor Manufacturing beat analyst estimates for the fourth quarter, thanks to strong sales of AI chips. TSM stock surged.
Shares in Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) are set to leap higher on Thursday trading in New York after the world's largest chip foundry posted record results. Fourth-quarter revenue increased 38.8% to NT$868.46 billion, which was above the consensus forecast of NT$850.08 billion expected.
U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. (TSM) rose 4% in premarket trading Thursday after the world's largest contract chip manufacturer posted better-than-expected fourth-quarter profit and a bullish outlook for artificial intelligence (AI) demand.
Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM ) Q4 2024 Earnings Conference Call January 16, 2025 1:00 AM ET Company Participants Jeff Su - Director, IR Wendell Huang - SVP, Finance & CFO C.C. Wei - Vice Chairman & CEO Conference Call Participants Gokul Hariharan - JPMorgan Laura Chen - Citigroup Charlie Chan - Morgan Stanley Brett Simpson - Arete Research Bruce Lu - Goldman Sachs Group Arthur Lai - Macquarie Rick Hsu - Daiwa Robert Sanders - Deutsche Bank Brad Lin - Bank of America Jeff Su Good afternoon, everyone, and welcome to TSMC's Fourth Quarter 2024 Earnings Conference and Conference Call.
On Thursday, Taiwan Semiconductor Manufacturing Co's TSM fourth-quarter results beat forecasts, fueled by demand for advanced processor node technologies for artificial intelligence applications.
Taiwanese chipmaking giant TSMC on Thursday announced a better-than-expected net profit for the fourth quarter as it benefits from booming demand for AI technology.
TSMC, the main chipmaker to Apple and Nvidia, projected quarterly sales and capital expenditure ahead of analysts' estimates. The strong performance is likely to buoy optimism that the AI spending cycle will continue this year.
Taiwan Semiconductor Manufacturing Co. December-quarter revenue and profit topped analyst estimates as the company benefits from the AI boom. TSMC's revenue in the December quarter rose 38.8% from a year earlier to NT$868.46 billion, while net income rose 57.0% to NT$374.68 billion.
Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing.
With big banks kicking off the Q4 earnings season this week, Wall Street will also be closely watching Taiwan Semiconductor's (TSM) quarterly results on Thursday, January 16.
Taiwan Semiconductor Manufacturing Co , the main global producer of advanced chips used in artificial intelligence applications, is expected to report a 58% leap in fourth-quarter profit on Thursday because of surging demand.
The results should reflect strong demand for hardware to power AI systems.