Salem Radio Network News Thursday, January 20, 2022

Business

TSMC Q4 profit rises 16.4%, beats market forecasts

TAIPEI (Reuters) – Taiwan chip company TSMC posted a 16.4% rise in quarterly net profit on Thursday, Reuters calculations show, boosted by a semiconductor boom for smartphones and laptops during the COVID-19 pandemic that led to a supply shortage of chips.

Net profit for October-December at Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a major Apple Inc supplier, rose to T$166.2 billion ($6.01 billion) from T$142.8 billion a year earlier.

That was higher than the T$161.6 billion average of 22 analyst estimates compiled by Refinitiv.

($1 = 27.6400 Taiwan dollars)

(Reporting By Yimou Lee and Sarah Wu; Editing by Muralikumar Anantharaman)

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