TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Co. (TSMC) on Tuesday (Jan. 10) reported a record revenue for 2022 of NT$2.26 trillion (US$74.25 billion), a rise of 42.6% from 2021.

It was the first time the world’s largest contract chip manufacturer reached NT$2 trillion in revenue for a year, even though figures for December showed a decline, the Liberty Times reported.

December's revenue totaled an estimated NT$192.56 billion, a rise of 23.9% compared to Dec. 2021, but a 13.5% drop from Nov. 2022. The decline followed four consecutive months of revenue exceeding NT$200 billion, even though it was still a record high for December.

Looking forward to 2023, TSMC still describes it as a year for growth. Calculated in U.S. dollars, revenue is still likely to increase by 15% to 20% each of the next few years, the company said.