TSMC beats expectations with net income of $7.1B in Q1 2024 - Breaking The News

TSMC beats expectations with net income of $7.1B in Q1 2024

18 April

1 min read

EPA-EFE/DAVID CHANG

Taiwan Semiconductor Manufacturing Company Limited (TSMC) announced Thursday that its net income for the first quarter of 2024 increased 38% compared to a similar period a year ago, to NT$225 billion ($7.1 billion). The results were better than expected due to the growing demand for AI.

The Taiwan-based company's net revenue was NT$592.64 billion ( $18.87 billion), compared to the expected NT$582.94 billion. Gross margin advanced 53% to NT$314.505 ($10 billion), and diluted earnings per share came in at NT$8.70 ($0.28).

The key supplier to Apple and Nvidia noted in its report that, in the first quarter, 3-nanometer (nm) shipments accounted for 9% of total revenue, while 5nm and 7nm accounted for 37% and 19%. Meanwhile, advanced technologies, defined as 7nm and higher technologies, accounted for 65% of total wafer revenue.

earnings tsmc

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