Taiwan Semiconductor Manufacturing Co. (TSMC) on Thursday reported a 57% year-on-year increase in net income for the fourth quarter of 2024, reaching NT$374.68 billion (~$11.38 billion), in line with expectations.

Its diluted earnings per share also rose by 57% to NT$14.45 or $0.45. Meanwhile, the company's consolidated revenue grew 38.8% to NT$868.46 billion. Compared to the third quarter of 2024, revenue increased 14.3%, while net income rose 15.2%.

For the full-year 2024, TSMC's net revenue totaled NT$2,894.31 billion, a 33.9% increase from 2023. Diluted earnings per share increased 39.9% to NT$45.25, with a net profit margin of 40.5%.