TAIPEI :Taiwanese chipmaker TSMC posted a 78 per cent rise in fourth-quarter net profit on Thursday, as strong sales of advanced chips helped it defy a broader industry downturn that battered cheaper commodity chips.
Taiwan Semiconductor Manufacturing Co Ltd , the world's largest contract chipmaker and a major Apple Inc supplier, saw net profit for October-December rise to T$295.9 billion from T$166.2 billion a year earlier.TSMC's business has been boosted by a global chip shortage that was sparked by pandemic-fuelled sales of smartphones and laptops.
Revenue for the fourth quarter climbed 26.7 per cent to $19.93 billion, versus TSMC's prior estimated range of $19.9 billion to $20.7 billion. Shares in TSMC fell 27.1 per cent in 2022, but are up 8.5 per cent so far this year giving the company a market value of $412.78 billion. The stock rose 0.4 per cent on Thursday, compared with a 0.1 per cent fall for the benchmark index.
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