Although Taiwan chipmaker TSMC (2330. TW) reported virtually unchanged fourth-quarter revenue on Wednesday, it exceeded both the company’s and the market’s expectations.
The largest contract chipmaker in the world has benefited from an increase in artificial intelligence applications thanks to customers like Apple (AAPL.O) and Nvidia (NVDA.O), which has helped it weather the pandemic-related slowdown in demand.
According to Reuters calculations, revenue in the last three months of last year was T$625.5 billion ($20.10 billion), up from $19.93 billion at the same time the previous year.
This exceeded the prior estimate from Taiwan Semiconductor Manufacturing Co. (TSMC) of $18.8–19.6 billion for fourth-quarter sales and an LSEG Smart estimate of T$617.1 billion derived from 21 analysts.
Intelligent estimates give forecasts from analysts with higher consistency and accuracy more weight. According to TSMC’s December report, sales decreased 14.4% from the previous month to T$176.3 billion, an 8.4% year-over-year decline.
With a market valuation of $491 billion, TSMC is Asia’s most valuable publicly traded business. However, the firm did not offer any specifics or projections in its brief sales statement.
On January 18, it is scheduled to release its fourth-quarter results report and an updated projection for the current quarter and the year.
Ahead of the sales data announcement on Wednesday, TSMC’s Taipei-listed shares saw a 0.3% decrease in closing value. The whole market, or.TWII finished down by 0.4%. In 2023, the shares increased by 32%, while the market gained 27%.
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