Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© tsmc
General |

TSMC profits down again, but 2024 outlook is good

Taiwan Semiconductor Manufacturing Co will post a 19% drop in net profit for Q4 2023, but it is projecting more than 20% growth for the year ahead.

The world's biggest semiconductor manufacturer is set to report net profit of USD 7.21 billion for the October to December period – its third consecutive quarter of profit decline.

Part of the reason for the fall was the unusually strong 2022, when the market was still buoyant from post-pandemic demand for tech products and cloud services. The profit for Q4 2022 was just under USD 10 billion.

However, the Taiwanese chipmaker TSMC is optimistic for the year ahead. It has projected more than 20% growth in 2024 revenue thanks to surging demand for advanced chips used in artificial intelligence applications.

CEO C.C. Wei told analysts that demand for advanced packaging remains very strong and that TSMC is at full capacity. By contrast he believes that capacity for mature nodes is exceeding demand.

TSMC is working to address its production limitations by investing in new sites. It will start building its German facility in the fourth quarter of this year, and will open its first Japanese fab in next month. The firm is also committed to constructing a second fab in Arizona and a third fab in the southern Taiwanese city of Kaohsiung.


Ad
Ad
Load more news
May 14 2024 7:33 am V22.4.46-1
Ad
Ad