In 2024, chip manufacturers have experienced mixed fortunes. AI-related companies have seen significant revenue growth, and although the storage market began to weaken in the second half of the year, related companies still saw a substantial increase in annual revenue, with many setting new records. On the other hand, chip manufacturers focusing on industrial, consumer, and automotive markets have not had it as easy. Many original manufacturers are still deeply trapped in a continuous decline in performance. We have compiled the revenue and outlook for the major players in the semiconductor industry chain for the fourth quarter and the entire year of 2024, for your reference.
01
Chip Design (Including IDM)
TI: Revenue Declines for the Ninth Consecutive Quarter
TI announced its Q4 2024 earnings, reporting revenue of $4.01 billion, a 3% decrease quarter-over-quarter and a 2% decrease year-over-year. Net profit stood at $1.21 billion, down 12% compared to the previous year. Operating profit fell 10% year-over-year to $1.38 billion. Throughout 2024, both revenue and profit declined each quarter compared to the previous year, resulting in total revenue of approximately $16 billion, a 12% decrease from 2023, and net profit of about $4.8 billion, a 26% drop from 2023.
The analog segment, which accounts for nearly 80% of TI’s revenue, showed resilience, with a 2% quarter-over-quarter growth. However, the embedded processing segment experienced a concerning 18% year-over-year revenue decline and a 70% drop in operating profit. TI stated that the overall electronics industry remains sluggish, contributing to its continuous revenue decline over nine quarters. Additionally, manufacturing expenses have also pressured profitability. TI’s CFO mentioned that the company’s capacity utilization is below full capacity to reduce inventory build-up, but this has impacted profits.
ST: Net Profit Plummets 63%, Plans to Close Factories and Lay Off Employees
STMicroelectronics’ 2024 revenue declined by 23.2% year-over-year to $13.27 billion, with an operating profit margin of 12.6%, a decrease of 14.1 percentage points. Net profit plummeted 63.0% year-over-year to $1.56 billion. In Q4 2024, revenue dropped by 22.4% year-over-year to $3.32 billion, with a gross margin of 37.7% and an operating profit margin of 11.1%. Net profit for Q4 fell 68.4% year-over-year to $341 million.
In Q4, ST’s microcontroller (MCU) business saw a 30.2% year-over-year decline, primarily due to a drop in demand for general-purpose MCUs. Digital IC and RF product revenue declined by 22.8%, mainly due to reduced demand for ADAS and infotainment systems. By end-market, industrial revenue dropped by about 41%, automotive revenue fell by about 20%, and personal electronics revenue decreased by around 17%. However, revenue from communication devices and computer peripherals grew by about 2%.
NXP: Revenue Declines, Layoffs Expected
NXP’s 2024 full-year revenue was $12.61 billion, a 5% decrease year-over-year. GAAP gross margin stood at 56.4%, and GAAP operating margin was 27.1%. In Q4 2024, NXP’s revenue was $3.11 billion, down 9% year-over-year, with a GAAP net profit of $495 million. GAAP gross margin was 53.9%, and GAAP operating margin was 21.7%.
In Q4, the company’s industrial and IoT divisions saw a 22% decline in revenue, the largest drop across all sectors. The automotive segment’s revenue fell by 6%, while the mobile division’s revenue decreased by 2%. NXP expects a “slight reduction” in its workforce, with global layoffs not exceeding 5%.
Microchip: Quarterly Revenue Drops 41.9%
Microchip’s Q3 FY2025 report, covering the period ending December 31, 2024, showed a 41.9% year-over-year drop in revenue and an 11.8% quarter-over-quarter decline to $1.026 billion. CEO Steve Sanghi commented that while there has been significant inventory destocking by customers and channel partners, the adjustment cycle is not yet complete. Orders in Q3 2024 were higher than those in Q4 2023, but the overall level remained low.
Qualcomm: Revenue Grows 9% Year-Over-Year
Qualcomm’s Q4 earnings report showed adjusted revenue of $10.24 billion, a 19% year-over-year increase, with net income of $2.92 billion. For the full fiscal year 2024, Qualcomm’s total revenue was $33.19 billion, a 9% increase from 2023.
The report revealed a 12% increase in mobile chip sales to $6.1 billion. Qualcomm CFO Akash Palkhiwala highlighted a more than 20% year-over-year increase in Android revenue. Its automotive business saw an 86% year-over-year growth, reaching $899 million, and its pipeline with automakers now exceeds billions of dollars. Its “IoT” business generated $1.68 billion in revenue, up 22% year-over-year. Qualcomm’s chip business revenue grew 18%, reaching $7.37 billion. Technology licensing (QTL) revenue amounted to $1.52 billion, up 21% year-over-year.
MediaTek: Record Second-Highest Annual Revenue
In Q4 2024, MediaTek’s consolidated revenue reached NT$138.04 billion, a 4.72% increase from Q3 and a 6.54% year-over-year increase. For the full year 2024, MediaTek’s total consolidated revenue was NT$530.59 billion, a 22.41% increase from 2023, marking the second-highest revenue in the company’s history.
Samsung: Net Profit Soars 131% Year-Over-Year
Samsung Electronics’ Q4 2024 revenue reached KRW 75.8 trillion, a 12% year-over-year increase. Operating profit more than doubled compared to the previous year, reaching KRW 6.5 trillion, a growth of over 130%. For the full year, the company achieved KRW 300.9 trillion in total revenue, a 16% increase year-over-year, and net profit surged to KRW 33.6 trillion, a 131% year-over-year increase.
The storage business was key to this growth, with Q4 storage revenue reaching KRW 23 trillion, a 3% increase quarter-over-quarter and a 46% increase year-over-year, setting a new record. This was primarily driven by increased sales of HBM and high-density DDR5 server memory, as well as higher DRAM prices. However, the DS segment’s operating profit fell by 26% quarter-over-quarter, due to higher R&D investments and initial high costs for advanced node production.
SK Hynix: Record Annual Revenue
Driven by strong demand for storage devices from AI, SK Hynix’s Q4 revenue reached KRW 19.77 trillion, a 75% year-over-year increase and a 12% quarter-over-quarter increase. The company’s total revenue for 2024 was KRW 66.19 trillion, the highest in its history.
Net profit for Q4 was KRW 8.01 trillion, a 39% quarter-over-quarter increase. For the full year 2024, net profit reached KRW 19.8 trillion, compared to a loss of KRW 9.11 trillion in 2023. Gross margin for Q4 was 52%, in line with Q3, and the highest for the year, compared to 20% in the same period last year. Additionally, operating profit margin, EBIT margin, and net profit margin were all at their highest levels for the year.
Micron: Storage Revenue Hits New Quarterly High
Micron’s Q1 FY25 report (for the three months ending November 30) showed revenue of $8.71 billion, an 85% year-over-year increase and a 12% quarter-over-quarter increase. Gross margin was 39.5%, up 38.7% year-over-year and 3% quarter-over-quarter, in line with guidance. The company’s traditional business showed relative weakness, while revenue from HBM and data center SSDs saw strong growth.
The Computing and Networking (CNBU) segment posted revenue of $4.4 billion, a new high, with a year-over-year increase of 159% and a quarter-over-quarter increase of 46%. Mobile (MBU) revenue reached $1.5 billion, up 15.4% year-over-year but down 19% quarter-over-quarter. Embedded (EBU) revenue was $1.1 billion, up 10% year-over-year but down 10% quarter-over-quarter. Storage (SBU) revenue reached $1.7 billion, a new quarterly high, with a 162% year-over-year increase and a 3% quarter-over-quarter increase, driven by record data center SSD sales.
Renesas: Operating Profit Drops 42.9% Year-Over-Year
Renesas Electronics released its financial results for the 2024 calendar year and Q4. The company posted a revenue of ¥1.348479 trillion, an 8.2% year-over-year decline. Operating profit plunged 42.9% to ¥222.977 billion. Renesas attributed the revenue drop to weak demand, particularly in industrial, infrastructure, and IoT businesses. The significant decline in operating profit was mainly due to decreased factory utilization and a weak product mix, alongside increased R&D expenses.
Other financial figures include a net profit of ¥219.422 billion, a 34.9% year-over-year decline. Renesas’ full-year gross margin stood at 55.6%. For Q4 2024, operating revenue was approximately ¥292.6 billion, with a forecast for Q1 2025 of ¥301.5-316.5 billion, representing a 12.2% year-over-year decline at the midpoint.
Infineon: Quarterly Revenue Declines 5.4% Year-Over-Year
Infineon reported Q4 2024 revenue of €4.06 billion, a 5.4% decline compared to the previous year. In Q4, Infineon’s automotive segment revenue dropped by 12%, driven by a slowdown in the automotive industry. Infineon’s industrial power control (IPC) segment also saw a decline in demand, especially for power semiconductors, due to a weak global market.
However, revenue from the digital security (DSEC) and microcontroller (MCU) segments showed growth. The company’s overall gross margin for Q4 2024 stood at 38.5%. For the full year 2024, Infineon’s revenue totaled €16.25 billion, a 6.2% year-over-year decline, with a gross margin of 39.2%.
Realtek: Annual Revenue Up 19.1% Year-Over-Year
Realtek’s Q4 2024 earnings report showed revenue of NT$26.345 billion, a 14.3% decrease quarter-over-quarter but a 16.6% increase year-over-year. Gross margin was 48.3%, down 3.1% quarter-over-quarter but up 3.6% year-over-year. Operating margin was 10.9%, down 1.8 percentage points quarter-over-quarter but up 5.8 percentage points year-over-year. Net profit after tax was NT$3.4 billion, down 22.3% quarter-over-quarter but up 55.9% year-over-year.
For the full year 2024, Realtek’s revenue reached NT$113.394 billion, a 19.1% increase from 2023. Gross margin was 50.4%, up 10.1 percentage points year-over-year. Operating margin was 11.9%, up 4.9 percentage points year-over-year. Net profit after tax was NT$15.292 billion, up 67.1% year-over-year. By the end of 2024, Realtek’s inventory stood at NT$13.506 billion, down 9% from the previous quarter but up 15% year-over-year.
MPS: Enterprise Data Market Revenue Up 51.2% Year-Over-Year
Monolithic Power Systems (MPS) reported Q4 2024 revenue of $621.7 million, a 36.9% year-over-year increase and a 0.2% quarter-over-quarter increase. Non-GAAP gross margin increased to 55.8%, up from 55.7% the previous year. For 2024, MPS achieved a 21% year-over-year revenue growth, reaching $2.2 billion, marking the 13th consecutive year of growth.
The enterprise data endpoint market saw a 51.2% year-over-year increase in Q4, generating $195 million, which accounted for 31.3% of total revenue, up from 28.4% the previous year. The storage and computing endpoint market grew by 16.4% year-over-year to $137 million, and the automotive endpoint market grew by 43% year-over-year to $128 million.
Yageo: Record Annual Revenue
Yageo, a major passive component manufacturer, reported December 2024 revenue of NT$9.52 billion, a 5% decrease month-over-month but a 6.4% increase year-over-year. Q4 revenue was NT$30.006 billion, a 5.5% decrease from the previous quarter but a 9.7% increase year-over-year. For the full year 2024, Yageo’s revenue reached NT$121.667 billion, a 13.1% increase from 2023, setting a new record for the company across monthly, quarterly, and yearly metrics.
Yageo previously indicated that it has a full product line of passive components needed for AI applications and expects AI to be the largest growth sector in 2025. It also foresees increased demand in computer, consumer electronics, and communication sectors, which could drive a surge in mobile phone and PC upgrades.
Murata: Capacitor Division Sees Huge Growth
Murata Manufacturing recently released its latest financial results, reporting a 2.0% year-over-year increase in consolidated revenue to ¥448 billion for the October-December 2024 quarter. Consolidated operating income dropped slightly by 0.3% to ¥76 billion due to a decrease in capacity utilization, but net income surged by 43.8% to ¥71 billion. Murata maintained its 2024 fiscal year forecast, projecting a 3.6% increase in consolidated revenue to ¥1.7 trillion, with operating income rising 39.2% to ¥300 billion and net income growing 30.0% to ¥235 billion.
As of the end of 2024, the company’s capacitor division saw significant growth, benefiting from a surge in demand for multilayer ceramic capacitors (MLCC) in computing and mobile applications. This division’s revenue grew 11.7% year-over-year to ¥630.4 billion, highlighting the industry’s shift toward high-performance products.
AMD: Record High Annual Revenue
In Q4 2024, AMD posted revenue of $7.66 billion, a 24% year-over-year increase, surpassing the market’s forecast of $7.54 billion. Non-GAAP gross margin rose to 54%, and operating profit grew 43% year-over-year to $2 billion, with net profit reaching a record $1.8 billion. For the full year 2024, AMD’s total revenue hit a record high of $25.8 billion, a 14% increase from 2023. Non-GAAP gross margin stood at 53%, up 3 percentage points year-over-year, with non-GAAP operating income of $6.1 billion and net income of $5.4 billion.
The data center segment saw a 68% year-over-year revenue increase in Q4, reaching a record $3.9 billion, though it fell short of analyst expectations of $4.12 billion. For the full year, data center revenue nearly doubled to $12.6 billion, up 94% year-over-year. The client segment, including PC chips, also saw a record Q4 revenue of $2.3 billion, up 58% year-over-year, exceeding analysts’ expectations of $1.98 billion. Annual revenue for the client segment was $2.3 billion, also up 58% from the previous year.
Intel: Net Loss of $18.8 Billion for the Year
Intel’s Q4 2024 revenue was $14.26 billion, a 7% year-over-year decrease. The company posted a net loss of $153 million, compared to a net profit of $2.66 billion in the same quarter last year. For the full year 2024, Intel’s total revenue was $53.1 billion, a 2% decrease year-over-year, with a net loss of $18.8 billion, compared to a net profit of $1.7 billion in 2023.
By business unit, Intel’s Client Computing Group posted a 9% decrease in Q4 revenue to $8.02 billion. The Data Center and AI Group’s revenue declined by 3% to $3.39 billion. Network and Edge Computing revenue grew by 10% to $1.62 billion, while Intel Foundry Services revenue fell by 13% to $4.5 billion. Revenue from other businesses, including Altera FPGAs, Mobileye autonomous driving, startups supported by Intel Innovation, and divested businesses, declined by 20% to $1.04 billion.
Broadcom: Revenue, Profit, and Semiconductor Revenue All Reach New Highs
Broadcom’s Q4 2024 earnings report, for the period ending November 3, showed a 51% year-over-year revenue increase to $14.054 billion. GAAP net profit was $4.324 billion, while non-GAAP net profit reached $6.965 billion. The CEO highlighted in a conference call that the company sees substantial opportunities in AI chips over the next three years, and its AI semiconductor business is expected to surpass other segments in revenue.
For the full fiscal year 2024, Broadcom posted a record revenue of $51.6 billion, up 44% from the previous year. AI-related revenue surged 220% year-over-year to $12.2 billion, driving semiconductor revenue to a new high of $30.1 billion. Adjusted EBITDA grew 37% year-over-year to a record $31.9 billion. Broadcom achieved new records for total revenue, profit, and semiconductor revenue in fiscal year 2024.
02
Wafer Manufacturing
Wafer Foundries
TSMC: Annual Revenue Up 30% Year-Over-Year
TSMC’s Q4 2024 revenue reached $26.88 billion, a 37.0% year-over-year increase and a 14.4% quarter-over-quarter increase. Net profit was $11.58 billion, up 57.0% year-over-year and 15.2% quarter-over-quarter. For the full year 2024, TSMC’s revenue was $90.08 billion, a 30.0% increase from 2023, with net profit of $36.48 billion, a 31.1% year-over-year growth. Gross margin, operating margin, and net margin were 56.1%, 45.7%, and 40.5%, respectively, showing single-digit increases compared to 2023, indicating further improvement in TSMC’s profitability.
TSMC CEO C.C. Wei stated, “We expect 2025 to be another year of strong growth for TSMC, with annual revenue growth projected at 20%.”
UMC: Annual Revenue Up 4.4% Year-Over-Year
UMC’s Q4 2024 profit was NT$8.5 billion, a 41% decrease quarter-over-quarter and a 35.6% decrease year-over-year, reaching its lowest point since Q3 2020. Gross margin was 30.4%, and operating margin was 19.8%. UMC had previously forecast flat shipment volumes and average selling prices (ASP) in USD, with gross margin expected to continue declining to around 30% due to exchange rate effects. Capacity utilization was estimated at 66% to 69%, down from 71% in Q3. For the full year 2024, UMC’s revenue reached NT$232.3 billion, a 4.39% increase year-over-year, setting a new second-highest annual record.
Co-CEO Stone Wang noted that the Q4 performance met expectations, with wafer shipments and capacity utilization slightly exceeding expectations. He also mentioned that 2024 revenue growth reflected steady demand in communications, consumer electronics, and computing, with 22/28-nanometer products continuing to be the main revenue contributor, growing 15% in 2024.
World Advanced: Annual Revenue Up 15.11% Year-Over-Year
World Advanced’s December 2024 revenue was NT$4.303 billion, a 24.49% increase month-over-month and a 22.61% increase year-over-year. Q4 2024 revenue was NT$11.553 billion, a 2.13% decrease from the previous quarter but a 19.42% year-over-year increase. Full-year revenue for 2024 totaled NT$44.055 billion, up 15.11% year-over-year, returning to positive growth and setting the second-highest annual revenue in history.
Looking ahead, World Advanced forecasts moderate growth in the semiconductor industry in 2025, with the company’s operations also growing at a moderate pace. To meet challenges, the company is actively developing new technologies and controlling costs. For example, its PMIC (power management IC) products have entered the AI power supply chain, becoming one of the company’s future growth drivers. The automotive electronics market is also expected to experience inventory clearance in one or two quarters. The company aims to maintain a capacity utilization rate of over 70% this year.
Assembly and Testing
ASE: Annual Revenue Hits Second-Highest in History
ASE Technology Holding’s full-year 2024 consolidated revenue reached NT$595.41 billion, a 2.3% year-over-year increase, setting a new second-highest record. For Q4 2024, ASE’s consolidated revenue was NT$162.264 billion, a 1.3% increase from the previous quarter and a 1% year-over-year increase, slightly exceeding market expectations. ASE continues to expand its advanced packaging capacity, and it is estimated that advanced packaging’s share of total assembly and test revenue will increase to 10% to 15%, with advanced packaging revenues likely to double from last year.
Equipment
ASML: Record Annual Net Sales
In Q4 2024, ASML achieved net sales of €9.3 billion, with a gross margin of 51.7% and net profit of €2.7 billion. New orders for the quarter totaled €7.1 billion, of which €3 billion were orders for EUV lithography machines. ASML set a new record in 2024, with total net sales of €28.3 billion, a gross margin of 51.3%, and net profit of €7.6 billion. For Q1 2025, ASML expects net sales between €7.5 billion and €8.0 billion, with a gross margin between 52% and 53%. For the full year 2025, net sales are expected to be between €30 billion and €35 billion, with a gross margin range of 51% to 53%.
ASML President and CEO Christophe Fouquet stated, “We achieved a historic high in revenue in Q4 2024, with net sales of €9.3 billion and a gross margin of 51.7%, both exceeding expectations. This was primarily driven by growth in our upgrades business. In addition, we confirmed revenue from two High-NA EUV systems in Q4, and we shipped the third High-NA EUV system to a customer.”
03
Chip Distribution
WPG: Annual Revenue Exceeds NT$800 Billion
According to WPG’s data, December 2024 revenue was NT$83.58 billion, a 14.1% increase month-over-month and a 44.7% increase year-over-year, setting a new record for the period. Q4 2024 revenue reached NT$231.66 billion, a 26.3% year-over-year increase, marking the second-highest quarterly revenue in history. WPG’s full-year 2024 consolidated revenue reached NT$880.61 billion, a 31% increase year-over-year, surpassing NT$800 billion for the first time.
WPG: Annual Revenue Growth of 61% to a New High
WPG Technology reported consolidated revenue for December 2024 at approximately NT$95.8 billion, a 63% increase year-over-year and a 42% increase month-over-month. Q4 2024 consolidated revenue was approximately NT$261.9 billion, growing 38% compared to the same period in 2023, setting a new quarterly revenue high and exceeding the upper end of previous forecasts. For the full year 2024, WPG’s consolidated revenue was approximately NT$959.4 billion, a 61% year-over-year growth, setting a new annual revenue record.
Arrow Electronics: Annual Revenue Down 16% Year-Over-Year
Arrow’s 2024 fiscal year revenue was $27.923 billion, a 15.66% decrease from the previous year, with net profit dropping by 56.64% to $392 million.
In Q4 2024, global component sales fell by 15% year-over-year, or 14% on a constant currency basis. Sales in the Americas for Q4 declined by 10%, while the EMEA region saw a 25% drop, and Asia-Pacific experienced a 10% decrease in sales during the same period.
Avnet: Performance Benefiting from Growth in Asia
Avnet reported Q2 2025 sales of $5.7 billion, exceeding the guidance midpoint. The adjusted earnings per share (EPS) for Q2 was $0.87, reflecting growth in sales primarily driven by Asia. The gross margin for the quarter was 10.5%, showing a decrease from both the previous quarter and year-over-year, due to the sales mix shift towards Asia. Operating income was reported at $15.9 million, with an adjusted operating margin of 2.8%.
YIDU: Annual Revenue Up 5.65% Year-Over-Year
YIDU’s consolidated revenue for December 2024 was NT$10.393 billion, a 3.74% decrease month-over-month but a 16.86% increase year-over-year. Full-year 2024 revenue reached NT$113.256 billion, a 5.65% year-over-year growth. Looking ahead to Q1 2025, the company anticipates a double-digit percentage decline compared to the previous quarter due to the seasonal slow-down, with revenue expected to be on par with the same period last year.
For this year, the company sees the AI industry continuing to be the main growth driver. YIDU remains optimistic about the second half of the year, expecting demand in AI servers and telecom network construction to be key pillars supporting its operations.
VIC: AI and PC Upgrade Cycles Will Be Key Drivers This Year
VIC’s December 2024 revenue reached NT$9.818 billion, setting a new monthly high with a 30.52% month-over-month increase and a 42.37% year-over-year growth. Total revenue for 2024 was NT$89.675 billion, a 26.49% increase compared to 2023, setting a new annual record. The company noted that the growth in December was primarily driven by seasonal demand and customers’ stockpiling ahead of the Lunar New Year holiday.
Looking to 2025, VIC anticipates that AI demand will remain a major growth driver, and with increasing corporate capital expenditures, the demand for AI-related components will continue to boost growth. Additionally, the laptop industry is expected to benefit from the discontinuation of Windows 10 updates and the rapid growth of the AI PC market, further driving demand for related chips, becoming another key driver for VIC’s operations.
ZhiShang: Storage Prices Expected to Remain Low in First Half of 2025
ZhiShang reported consolidated revenue of NT$20.639 billion for December 2024, a 47.4% month-over-month increase and a 28.4% year-over-year increase. Q4 2024 consolidated revenue was NT$50.665 billion, showing a 16.2% decrease quarter-over-quarter, marking two consecutive quarters of decline but a 3% year-over-year increase. For the full year 2024, ZhiShang’s consolidated revenue reached NT$237.008 billion, a 55.7% year-over-year increase, setting a new historical high.
ZhiShang pointed out that the decline in storage prices in Q4 2024, coupled with seasonal factors, had a noticeable impact on revenue. For Q1 2025, storage prices are expected to continue their downward trend, and consumer demand has not shown significant recovery. The spot market prices are falling, with contract prices in backwardation, further reflecting weak market demand, which will put pressure on the company’s performance. The company expects the storage industry to remain sluggish in the first half of the year, with growth in the second half of 2025 contingent on whether demand for AI PCs and other end products can drive overall sales growth.
Source: Internet
Related:
- ASM Ramps Up U.S. Production of Semiconductor Gear
- Korea Expands Semiconductor Industry Aid to 33 Trillion KRW
- SEMICON China 2025: Explore the future of chip industry
- 2025 Semiconductor Outlook: CapEx of Leading Chipmakers
- 2025 Data Center Trends: What You Need to Know
- First Semiconductor Wafer Plant in Vietnam by 2030
- ASML Announces Beijing Repair Center After 2025
Disclaimer:
- This channel does not make any representations or warranties regarding the availability, accuracy, timeliness, effectiveness, or completeness of any information posted. It hereby disclaims any liability or consequences arising from the use of the information.
- This channel is non-commercial and non-profit. The re-posted content does not signify endorsement of its views or responsibility for its authenticity. It does not intend to constitute any other guidance. This channel is not liable for any inaccuracies or errors in the re-posted or published information, directly or indirectly.
- Some data, materials, text, images, etc., used in this channel are sourced from the internet, and all reposts are duly credited to their sources. If you discover any work that infringes on your intellectual property rights or personal legal interests, please contact us, and we will promptly modify or remove it.
