台积电4月营收年增逾48%，创历史新高

Core Insights - TSMC reported a record revenue of NT$349.57 billion for April 2025, marking a 22.24% increase from March and a 48.11% increase year-over-year [1] - Cumulative revenue for the first four months reached NT$1.18 trillion, up 43.46% from NT$828.67 billion in the same period last year [1] - For Q2, TSMC expects revenue to rise to between US$28.4 billion and US$29.2 billion, with a gross margin estimate of 57% to 59% and an operating margin estimate of 47% to 49% [1] Revenue Performance - April 2025 revenue of NT$349.57 billion set a new historical high [1] - Year-over-year growth of 48.11% from NT$236.02 billion in April 2024 [1] - Monthly growth of 22.24% from March 2025 revenue of NT$285.96 billion [1] Cumulative Revenue - Total revenue for the first four months of 2025 reached NT$1.18 trillion [1] - This represents a 43.46% increase compared to NT$828.67 billion in the same period of 2024 [1] Q2 Outlook - Projected Q2 revenue is estimated to be between US$28.4 billion and US$29.2 billion [1] - Midpoint revenue estimate translates to approximately NT$936 billion, indicating a quarterly increase of 11.53% and a year-over-year increase of 35.97% [1] - Expected gross margin and operating margin for Q2 are slightly lower, estimated at 58% and 48% respectively [1]