TSMC, the world's largest contract chipmaker, has today reported fourth-quarter revenue rose 20.45% from a year earlier, beating the market forecast, as demand for the company's products leapt on surging interest in artificial intelligence applications.
Revenue for the October-December period was T$1,046.08 billion ($33.04 billion), according to Reuters calculations based on monthly data the company released, compared with T$868.46 billion the same time a year ago.
The latest result handily topped a LSEG SmartEstimate of T$1,035.913 billion ($32.72 billion) drawn from 20 analysts, and was in line with guidance of $32.2 billion to $33.4 billion issued by TSMC in October in its last earnings call. TSMC only gives guidance in US dollars.
TSMC will report full fourth-quarter earnings on January 15, including an updated outlook for the current quarter and full year.
The company, whose customers include Nvidia and Apple, has been a major beneficiary of advances in AI, which has more than offset the tapering off of pandemic-led demand for chips used in consumer electronics like tablets.
TSMC's Taipei-listed shares gained 44.2% last year, outperforming the 25.7% rise for the broader market.
Taiwan's Foxconn, the world's largest contract electronics maker and Nvidia's biggest server maker, also reported bumper sales this week, logging T$2.6028 trillion ($82.20 billion) for the fourth quarter.
