On Thursday, April 18, 2024, TSMC’s offices in San Jose, California, USA.
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British Semiconductor Second-quarter revenue and profit topped expectations on Thursday as demand for advanced chips used in artificial intelligence applications continues to surge.
Here’s how TSMC’s second-quarter results compare to London Stock Exchange Group consensus estimates:
- income: NT$673.51 billion (US$20.82 billion), expected to be NT$657.58 billion
- net income: NT$247.85 billion, expected NT$238.8 billion
TSMC announced that its net revenue increased by 40.1% from the same period last year to NT$673.51 billion, and its net profit increased by 36.3% from the same period last year to NT$247.85 billion. The company guided Second-quarter revenue will be between $19.6 billion and $20.4 billion.
Surge in demand for advanced chips used in artificial intelligence applications has sent TSMC’s Taiwan-listed shares up nearly 70% so far this year.
TSMC is a major global producer of advanced chips used in everything from smartphones to artificial intelligence applications, although its competitors include Samsung and Intel has been trying to challenge its dominance. it’s important apple and Nvidia among its customers.
The chip giant currently produces 3nm wafers and plans to begin mass production of 2nm wafers in 2025.
Brady said: “The demand for generative AI in the cloud and edge is surging. TSMC’s N3 process has good yields and well-managed production lines. There is sufficient market capital, and regional political factors are driving increased demand for advanced processes.” Deputy Director of Counterpoint Research Superintendent Wang said Friday before the results were announced.
Wang said that the 3-nanometer process production capacity is expected to more than double in 2024 compared with the previous year.
Needham analysts said on Monday that they expect TSMC to raise its revenue growth target for 2024, reiterated a “buy” rating and raised the price target for the chip giant’s U.S.-listed shares to $210 from $168.
Needham said: “We expect TSMC to raise its 2024 revenue growth outlook to ‘mid-to-high 20s’ from ‘low to mid 20s’ but maintain 2024 (capex) on its upcoming earnings call ) target is US$30 billion.
According to statistics, TSMC accounted for 62% of the global foundry market in the first quarter, higher than 59% in the same period last year. Counterpoint study data.
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