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TSMC Q4 profit rises 16.4%, beats market forecasts -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Taiwan Semiconductor Manufacturing Co.’s logo (TSMC) can be seen at the headquarters in Hsinchu on Taiwanese January 19, 2021. REUTERS/Ann Wang/File Photo

TAIPEI, (Reuters) – Taiwan’s chip manufacturer TSMC reported a 16.4% increase in its quarterly net profit. This was due to a surge of smartphones and laptops that took place during the COVID-19 epidemic, which caused a shortage of chips.

From T$142.8 million a year prior, Taiwan Semiconductor Manufacturing Co Ltd’s October-December net profit rose to T$166.2 Billion ($6.01 Billion)

It was also higher than Refinitiv’s average T$161.6 million estimate from 22 analysts.

($1 = 27.6400 Taiwan dollars)

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