Taiwan Semiconductor Manufacturing Co. (TSM) has reported a record profit as demand for artificial intelligence (A.I.) microchips and processors surges.
The Taiwan-based company that is the world’s largest microchip manufacturer has reported
revenue of 868.46 billion New Taiwan dollars ($26.36 billion U.S.). That exceeded the NT$850.08 billion expected on Wall Street.
Net income for the quarter totaled NT$374.68 billion, which was ahead of the consensus expectation of NT$366.61 billion among analysts.
TSMC, as the company is known, said that its profit rose 57% from a year earlier to a record, while revenue increased 38.8%.
The company makes semiconductors and microchips for clients such as Nvidia (NVDA) and Apple (AAPL) and is benefitting from surging global demand.
TSMC’s high-performance computing division, which includes A.I. and 5G, drove sales in the fourth quarter, contributing 53% of revenue. That revenue was up 19% from the previous third quarter of 2024.
For all of last year, TSMC reported annual revenue of 2.9 trillion New Taiwan dollars, a record amount for the company, which has been publicly traded since 1994.
The strong results come despite the U.S. placing restrictions on semiconductor shipments to China and uncertainty surrounding the trade policies of incoming president-elect Donald Trump.
TSMC’s stock rose 81% in 2024 and is up 5% in premarket trading on news of its latest financial results. The shares are currently changing hands in New York at $216.98 U.S. each.
