TSMC reports US$7.93 billion net revenue for July

Taipei, Aug. 9 (CNA) Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) on Friday reported net revenue of NT$256.95 billion (US$7.93 billion) for July, the highest ever in a single month.

The July revenue represented a 23.6 percent increase over the previous month and a 44.7 percent year-on-year rise, TSMC said in a news release.

In the first seven months of this year, total revenue reached NT$1.52 trillion, an increase of 30.5 percent compared to the same period in 2023, the company said.

Due to strong demand for advanced process technologies used in smartphones and artificial intelligence (AI) applications, TSMC forecast during an investor conference in mid-July that sales in the third quarter would range between US$22.4 billion and US$23.2 billion, with the median figure up 9.5 percent from a quarter earlier.

According to a market analyst, TSMC's increased revenue in July came on the back of increased orders from Apple and Nvidia, an artificial intelligence chip designer based in the United States.

For 2024 as a whole, TSMC said its sales could rise 24-26 percent in U.S. dollar terms, an upgrade from an earlier estimate of 21-26 percent.