Taiwanese chipmaker TSMC saw its net profit increase 78 percent in the fourth quarter, setting a new quarterly record, as strong sales of advanced chips helped the company counter the broader economic slowdown. This cooling mainly affects the cheaper standard chips.
Sales increased 26 percent to $ 19.93 billion. TSMC therefore saw its net profit in October-december rise to a record 295.9 billion Taiwan dollars (9.72 billion dollars).
This puts the profit above analyst expectations – 9.72 billion dollar. TSMC’s net profit is growing spectacularly.
For 2023, the chip manufacturer is a little more cautious. “We expect the chip market to cool slightly, but TSMC will grow slightly,” CEO C. C. Wei said about the new year. TSMC speaks of ” weakening consumer demand and an adjustment in customer inventories.”