Today, TSMC announced its fourth quarter financial report for 2023 as of December 31, 2023. The financial report shows that the company's consolidated revenue in the fourth quarter was approximately NT$625.53 billion, which was basically the same year-on-year and increased by 14.4% month-on-month; net profit was approximately NT$238.71 billion, a year-on-year decrease of 19.3%, and a month-on-month increase of 13.1%; diluted earnings per share was NT$9.21, a year-on-year decrease of 19.3%.
In U.S. dollar terms, the company's fourth-quarter revenue of $19.62 billion exceeded the company's expectations, down 1.5% year over year, but up 13.6% sequentially. In the company's third-quarter 2023 financial report released on October 19, the company's management expected its fourth-quarter revenue to be between US$18.8 billion and US$19.6 billion.
Foreign media have reported that the company's revenue in the fourth quarter exceeded expectations, thanks to the increase in demand for high-performance processors in the AI field, which made up for the decrease in chip demand caused by the decline in iPhone sales.
In the fourth quarter of 2023, the company's gross profit margin was 53%, operating profit margin was 41.6%, and net profit margin was 38.2%.
For the full year of 2023, the company's revenue was NT$2.16174 billion, a decrease of 4.5% from 2022; diluted earnings per share was NT$32.34, a decrease of 17.5% from 2022; the net profit margin was 38.8%, a decrease of 6.1 percentage points from 2022.
The company expects its revenue to be between US$18 billion and US$18.8 billion in the first quarter of 2024; its gross profit margin is expected to be between 52% and 54%; and its operating profit margin is expected to be between 40% and 42%. The company's management expects its 2024 capital budget to be between $28 billion and $32 billion.