Taiwan Semiconductor Manufacturing Co (NYSE:TSM), or TSMC, reported a 53.3% year-on-year increase in August revenue as demand for its advanced semiconductor manufacturing processes continued.
Revenue reached T$514.8 billion ($16.35 billion) for the month, compared with the same period a year earlier. On a month-on-month basis, revenue increased 10.1%.
For the year to date, TSMC reported revenue of T$3.38 trillion, representing an increase of 39.3% from the corresponding period last year.
Advanced Chip Processes Support Revenue Growth
According to the supplied information, August’s revenue growth was supported primarily by sales from TSMC’s most advanced chipmaking processes.
Demand for these manufacturing technologies has increased in recent years alongside demand for advanced artificial intelligence processors.
The increase in demand has constrained TSMC’s overall production capacity, according to the supplied information. The company has been expanding capacity while prices charged to contract manufacturing customers have also increased.
TSMC is a supplier to Nvidia and manufactures semiconductors on behalf of customers as a contract chipmaker.
TSMC Shares Rise Over Past 12 Months
TSMC shares have doubled in value over the past 12 months, according to the supplied information.
The stock has increased approximately sixfold since late 2022.
The reported share-price performance describes historical movements and does not indicate future returns.