Taiwan Semiconductor Manufacturing Company (TSMC) reported a consolidated revenue of NT$276.058 billion (US$8.504 billion) for November 2024. This represents a 34% year-over-year increase, bolstered by continued strong demand for AI chips. However, revenue declined 12.2% from October’s record NT$314.24 billion, marking the first time the company exceeded NT$300 billion in monthly revenue.
For the year-to-date period (January to November 2024), TSMC’s revenue reached NT$2.61 trillion, reflecting a 31.8% annual growth. TSMC credits this performance to its leadership in advanced process nodes such as 5nm and 3nm. It is fully utilized to meet the surging demand from AI-related industries and major clients like Apple.
TSMC’s fourth-quarter revenue is projected to range between US$26.1 billion and US$26.9 billion (NT$835.2 billion to NT$860.8 billion), indicating an 11%-14% quarter-over-quarter increase. The company is expected to achieve this target comfortably, with cumulative October-November revenue totaling NT$590.298 billion. For December, revenue would need to hit just NT$270.5 billion to meet the high end of its guidance.
Following the revenue report, TSMC's stock price demonstrated strong performance, reinforcing investor confidence in the company’s growth trajectory despite broader economic uncertainties. Analysts have pointed out that TSMC’s dominance in high-performance computing and AI markets shield it from the cyclical pressures affecting traditional semiconductor markets.
