TSMC has reported revenue of NT$256.95 billion (US$7.94 billion) for July 2024, up 23.6% sequentially and 44.7% year over year.
TSMC disclosed its cumulative 2024 revenue through July climbed 30.5% from a year earlier to NT$1.52 trillion.
TSMC's revenue and margin performance for the second quarter of 2024 both surpassed the company's guidance, thanks mainly to the fully utilized 3nm and 5nm fab capacities. The company expects a 9.5% sequential increase in third-quarter revenue in US dollar terms at the midpoint, with a gross margin of 55.5%.
"Our business in the second quarter was supported by strong demand for our industry-leading 3nm and 5nm technologies, partially offset by continued smartphone seasonality," said TSMC CFO Wendell Huang when disclosing the company's financial results for the quarter. "Moving into third quarter 2024, we expect our business to be supported by strong smartphone and AI-related demand for our leading-edge process technologies."
TSMC also narrowed its revenue growth estimate for this year from 21%-26% to 24-26%.
TSMC's revenue in US dollars is expected to climb by around 30% in 2024, according to market observers, which credited their superior forecast to robust orders for HPC and AI chips.
Fellow pure-play foundry company United Microelectronics (UMC) saw its July revenue climb to a 19-month high of NT$20.9 billion. This represents a sequential increase of 19.1% and a year-over-year increase of 9.6%. The company's revenue for the first seven months of 2024 totaled NT$132.33 billion, up 2.1% from the same period a year earlier.
UMC expects to post a mid-single-digit sequential increase in wafer shipments with about flat growth in ASPs in the third quarter of 2024, when fab utilization rates will rise to 70% on average, up from 68% the previous quarter. End-market dynamics will improve further, particularly in the communication and computing categories, resulting in increased fab utilization, according to the company.
