TSMC April Revenue Hits Record NT$349.6B, Up 48.1% YoY

On May 9, TSMC released its financial report for April 2025, reporting a record-breaking monthly revenue of NT$349.6 billion (approximately USD 11.6 billion). This marks a 22.2% increase compared to March and a 48.1% rise year-over-year—setting a new all-time high for single-month revenue.

From January through April 2025, TSMC's cumulative revenue reached NT$1.1888 trillion, reflecting a 43.5% increase over the same period last year and establishing a new record for the first four months of any year.

Industry analysts attribute this surge to a global acceleration in the procurement of critical electronic components, driven by concerns over potential tariffs and regulatory changes.

TSMC's April earnings benefited significantly from sustained demand for its 5nm and 3nm process technologies. During its recent earnings call, the company forecasted Q2 consolidated revenue to be in the range of USD 28.4 billion to USD 29.2 billion, with the midpoint representing a 12.75% quarter-over-quarter increase—exceeding market expectations. Assuming an exchange rate of NT$32.5 to USD 1, TSMC projects gross margins between 57% and 59%, and operating margins in the range of 47% to 49%, indicating continued strong profitability.

However, the recent appreciation of the New Taiwan Dollar could pose a challenge to future profit margins, as a significant portion of TSMC's operations are conducted in U.S. dollars. The company previously noted that for every 1% appreciation in the NT dollar, operating margins decrease by approximately 0.4 percentage points.

Meanwhile, geopolitical developments are also influencing the semiconductor landscape. Analysts noted that the Biden-era AI export restrictions may be temporarily eased under a new proposal by the U.S. government, offering a brief window for increased AI chip shipments. TSMC, which generates about 20% of its revenue from AI-related semiconductor manufacturing, is expected to benefit in the short term. Nonetheless, long-term uncertainty remains, with stricter export control measures anticipated in the near future.