quarterly profit that exceeded analysts’ estimates, using its clout to boost earnings even as the chip industry braces for a potential recession and tighter US trade controls.
Net income climbed 78% to NT$295.9-billion for the quarter ended December, TSMC said on Thursday. Analysts estimated NT$287.8-billion on average. Revenue advanced 43% to NT$625.5-billion as previously reported — the first miss in two years.The world’s biggest contract manufacturer of chips last year reduced its capital expenditure plans by about 10%, spending $36.3-billion, and some analysts have warned it may further delay outlay on expansion in 2023.
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