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TSMC March 2024 Revenue Report

Daniel Nenni

Daniel Nenni

Admin
Staff member
Issued by: TSMC
Issued on:
2024/04/10
TSMC March 2024 Revenue Report
HSINCHU, Taiwan, R.O.C. – Apr. 10, 2024 - TSMC (TWSE: 2330, NYSE: TSM) today announced its net revenue for March 2024: On a consolidated basis, revenue for March 2024 was approximately NT$195.21 billion, an increase of 7.5 percent from February 2024 and an increase of 34.3 percent from March 2023. Revenue for January through March 2024 totaled NT$592.64 billion, an increase of 16.5 percent compared to the same period in 2023.
TSMC March 2024 Revenue Report

TSMC Spokesperson​

Wendell Huang
Senior Vice President & Chief Financial Officer
Tel:886-3-5055901

TSMC Deputy Spokesperson​

Nina Kao
Public Relations Division
Tel:886-3-5636688 Ext.7125036
 

TSMC's Q1 revenue rise beats market expectations on AI boom​

TAIPEI, April 10 (Reuters) - Taiwan chipmaker TSMC reported a 16.5% rise in first-quarter revenue on Wednesday, beating market expectations and at the high end of the company's own guidance as its sales boom on demand for artificial intelligence applications.

The world's largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has helped it weather the tapering off of pandemic-led demand and pushed TSMC's stock to a record high.

Revenue in the first three months of this year came in at T$592.64 billion ($18.54 billion), up from $16.72 billion in the year-ago period.
That was towards the higher end of Taiwan Semiconductor Manufacturing Co's (TSMC) previous prediction for first-quarter revenue to range between $18 billion and $18.8 billion.

The result beat an LSEG SmartEstimate of T$581.45 billion drawn from 23 analysts, weighted toward those who are more consistently accurate.

The first half of the year is traditionally quieter for Taiwanese tech firms, coming after the end-of-year holiday rush for goods like tablets and smartphones in major Western markets, but the AI trend is boosting demand even in the off season.

Taiwanese chip giant TSMC holds a ceremony in Tainan

A logo of taiwanese chip giant TSMC is seen at southern Taiwan science park in Tainan, Taiwan December 29, 2022.REUTERS/Ann Wang

For March alone, TSMC reported revenue rose 34.3% year-on-year to T$195.21 billion and was up 7.5% from the previous month.

TSMC, Asia's most valuable publicly listed company with a market capitalisation of $662 billion, did not provide any details or forward guidance in its brief revenue statement.

It is scheduled to report first quarter earnings on April 18, where it will also update its outlook for the current quarter and the year.
TSMC is expected to report a 4% rise in first quarter net profit, according to an LSEG SmartEstimate.

TSMC's Taipei-listed shares closed down 0.5% on Wednesday ahead of the release of the sales data. The broader market ended down 0.2%.

The chipmaker's shares have surged 37% so far this year, compared with a 16% gain for the broader market.

 
Great quarter! It will be interesting to see the impact of the earthquake in next month financials. Should be minimal, some lost wafers from shutting down the lines for inspection. TSMC will probably mention it on the next investor call. My guess as to the 2024 numbers is the industry will see 10% growth and TSMC will be twice that (20%) due to the dominance of the N3 node and the ramping of the Intel N3 business.
 
Daniel Nenni said:
Great quarter! It will be interesting to see the impact of the earthquake in next month financials. Should be minimal, some lost wafers from shutting down the lines for inspection. TSMC will probably mention it on the next investor call. My guess as to the 2024 numbers is the industry will see 10% growth and TSMC will be twice that (20%) due to the dominance of the N3 node and the ramping of the Intel N3 business.
Click to expand...
Guidance should be quite telling but what I'm really excited for is the NA tech symposium. Its like christmas for semi nerds!!!
 
Daniel Nenni said:
Great quarter! It will be interesting to see the impact of the earthquake in next month financials. Should be minimal, some lost wafers from shutting down the lines for inspection. TSMC will probably mention it on the next investor call. My guess as to the 2024 numbers is the industry will see 10% growth and TSMC will be twice that (20%) due to the dominance of the N3 node and the ramping of the Intel N3 business.
Click to expand...

It’s going to be challenging for TSMC’s FY24 YOY revenue to only be +20%, given:
Currently, YTD revenue is already +16.5%.
TSMC’s seasonal quarterly revenue averages are 22.2%, 24.1%, 26.8%, and 26.9% of total FY, respectively.
TSMC is like to raise prices on 5/3nm nodes, at least.

Even if the next 3 quarters are lackluster, which is unlikely, FY24 YOY revenue is probably closer to +30%.
 
Why do they report monthly results instead of just quarterly? I know the other Taiwanese foundries do. Seems like it would be extra work and a distraction.
 
milesgehm said:
Why do they report monthly results instead of just quarterly? I know the other Taiwanese foundries do. Seems like it would be extra work and a distraction.
Click to expand...

In addition to the quarterly earnings report and filling, a monthly revenue report is required by the security law for a publicly traded company in Taiwan. A publicly traded company there must report previous month revenue by the 10th day of each month.
 
fansink said:
It’s going to be challenging for TSMC’s FY24 YOY revenue to only be +20%, given:
Currently, YTD revenue is already +16.5%.
TSMC’s seasonal quarterly revenue averages are 22.2%, 24.1%, 26.8%, and 26.9% of total FY, respectively.
TSMC is like to raise prices on 5/3nm nodes, at least.

Even if the next 3 quarters are lackluster, which is unlikely, FY24 YOY revenue is probably closer to +30%.
Click to expand...
Great observation. A question - "TSMC is like to raise prices on 5/3nm nodes, at least". My understanding was price increase if any will be for 2025? You expecting price hike for 2024?
 
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