On May 10th, leading semiconductor foundry TSMC released its performance for April. According to the data, TSMC achieved revenue of NT$236.02 billion (approximately RMB 52.6 billion) in April 2024, representing a year-on-year increase of 59.6% and a month-on-month increase of 20.9%. For the period from January to April 2024, TSMC reported revenue of NT$866.5 billion (approximately RMB 184.6 billion), marking a year-on-year growth of 26.2%.

Previously, TSMC announced consolidated revenue of approximately NT$592.64 billion for the first quarter of 2024, a year-on-year increase of 16.5%, the fastest growth rate in over a year. The net profit for the same period was approximately NT$225.49 billion, up 8.9% year-on-year.

In its earlier financial briefing, TSMC mentioned that downstream demand outside of AI fell short of expectations, leading to a revision of the 2024 annual growth rate for the semiconductor industry (excluding memory) to 10% (previously forecasted to exceed 10%). It also revised the global foundry industry's growth rate to 15%-17% (previously estimated at 20%).

Looking ahead to the second quarter, TSMC expects to achieve revenue of approximately $19.6 billion to $20.4 billion. Based on an assumed exchange rate of 1 USD to NT$32.3, the gross profit margin for the second quarter is expected to be between 51% and 53%.