TSMC’s year-on-year revenue remains flat

TSMCs’s YoY revenue: Taiwan Semiconductor Manufacturing Company (TSMC), the preeminent contract chip manufacturer globally, reported revenue that remained relatively unchanged in the fourth quarter of 2023, compared to the corresponding period in the prior year. Nevertheless, the figures surpassed both the company's internal projections and broader market forecasts.

TSMC's revenue for the concluding quarter of last year stood at T$625.5 billion (equivalent to $20.10 billion), according to Reuters. This marked a marginal increase from the $19.93 billion recorded in the same quarter of the preceding year. 

Beats expectations

The reported revenue exceeded TSMC's anticipations, which had previously forecasted a fourth-quarter revenue ranging between $18.8 billion and $19.6 billion. Moreover, the performance eclipsed the LSEG SmartEstimate, derived from insights provided by 21 analysts, which had projected revenue at T$617.1 billion.

It is worth noting that SmartEstimates employ a weighted methodology, prioritising forecasts from analysts with a track record of consistent accuracy.

Delving into the monthly performance, TSMC disclosed that its revenue for December experienced a decline of 8.4 per cent year-on-year, amounting to T$176.3 billion. This figure also represented a month-on-month contraction of 14.4 per cent.

(With Reuters inputs)