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TSMC Q4 revenue T$868.42 bln according to Reuters

calculations

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Revenue beats market forecast

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TSMC has benefited from surge towards AI

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Company to report Q4 earnings on Jan 16

(Adds details throughout)

TAIPEI, Jan 10 (Reuters) - TSMC, the world's

largest contract chipmaker, reported on Friday fourth-quarter

revenue that easily beat market forecasts and hit its own

expectations as it reaped the benefit of artificial intelligence

demand.

Taiwan Semiconductor Manufacturing Co ( TSM ), whose customers

include Apple ( AAPL ) and Nvidia ( NVDA ), has been at the

forefront of the march towards AI that has helped it weather the

tapering off of pandemic-led demand of chips used in consumer

electronics like tablets.

Revenue in the October-December period of 2024 came in at

T$868.42 billion ($26.36 billion), according to Reuters

calculations, compared with an LSEG SmartEstimate of T$853.57

billion ($25.90 billion) drawn from 23 analysts.

That represents growth of 34.4% year-on-year, and compares

with revenue of $19.62 billion in the year-ago period.

It is not a direct comparison as TSMC provides monthly

revenue data only in Taiwan dollars, but gives quarterly revenue

figures and its outlook on its quarterly earnings calls both in

U.S. dollars.

On its most recent earnings call in October, TSMC forecast

fourth-quarter revenue in a range of between $26.1 billion to

$26.9 billion.

For December alone, TSMC reported revenue jumped 57.8%

year-on-year to T$278.16 billion.

The company did not provide details in its brief revenue

statement.

Other Taiwan companies have also reported strong

fourth-quarter revenue due to the AI boom. On Sunday, Foxconn

, the world's largest contract electronics maker and

which makes AI servers for Nvidia ( NVDA ), beat expectations to post its

highest-ever revenue for the final three months of 2024.

TSMC will report full fourth-quarter earnings on

Jan. 16, when it will update its outlook for the current quarter

and full year.

The company's Taipei listed stock leapt 81% last year,

compared with a 28.5% gain for the broader market.

It closed flat on Friday ahead of the release of the revenue

numbers. The benchmark index ended down 0.3%.

($1 = 32.8850 Taiwan dollars)