Taiwan Semiconductor Manufacturing (TSM) has reported a decrease in net revenue for December 2023 compared to the previous year. The company, which serves as a major chipmaker to Apple and Nvidia, saw its net revenue fall by 8.4% year-over-year to NT$176.30B. This decline in revenue follows a 14.4% quarter-over-quarter decrease in November 2023, where TSM generated NT$206.03B.
According to a report by Reuters, TSM’s net revenue for the fourth quarter of 2023 amounted to NT$625.5B ($20.10B), slightly higher than the revenue recorded in the same period of the previous year, which was $19.93B. The company had initially expected its fourth-quarter revenue to be between $18.8B and $19.6B, according to its third-quarter results announced in October 2023. The consensus revenue estimate for the quarter is $19.76B.
For the entire year of 2023, TSM’s revenue from January to December totaled NT$2.162T, representing a 4.5% decrease compared to the same period in 2022. Despite this decrease, TSM has benefited from the growing demand for artificial intelligence applications.
TSM is set to report its detailed fourth-quarter earnings on January 18. However, prior to this, Samsung Electronics has already provided preliminary data on its fourth-quarter operating profit, expecting a 35% decline year-over-year.
While TSM’s net revenue in December 2023 shows a decline, the company continues to remain a key player in the semiconductor industry, supplying chips to major tech giants like Apple and Nvidia. The upcoming detailed earnings report will provide further insight into TSM’s performance and its position in the competitive market.
The source of the article is from the blog hashtagsroom.com