Taiwan Semiconductor Manufacturing Co Reported 33% Topline Growth YoY In August 2024, Net Revenue Declined 2.4% QoQ
Portfolio Pulse from Benzinga Newsdesk
Taiwan Semiconductor Manufacturing Co (TSMC) reported a 33% year-over-year revenue growth in August 2024, despite a 2.4% decline from the previous month. The company's revenue for the first eight months of 2024 increased by 30.8% compared to the same period in 2023.
September 10, 2024 | 7:11 am
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TSMC reported strong year-over-year revenue growth of 33% in August 2024, but experienced a slight decline of 2.4% from July 2024. The overall revenue for the first eight months of 2024 increased by 30.8% compared to the same period in 2023.
The strong year-over-year growth indicates robust demand and operational performance, which is positive for TSMC's stock. However, the month-over-month decline may raise some concerns, but the overall positive trend for the year supports a likely positive short-term impact on the stock price.
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