Taiwan-based chip maker Taiwan Semiconductor Manufacturing Co. Ltd. on Thursday reported a 19.3% fall in internet revenue, however nonetheless managed to beat expectations amid hopes a worldwide chip slowdown is easing.
TSMC
2330,
TSM,
reported internet earnings of recent Taiwan {dollars} $238.71 billion ($7.6 billion) within the fourth quarter from NT$295.90 billion within the 12 months in the past interval. The firm was anticipated to put up internet earnings of NT$224.67 billion for the quarter ended Dec. 31, in response to a ballot of analysts by S&P Global Market Intelligence.
Revenue for the Apple
AAPL,
and Nvidia
NVDA,
chip provider got here in at NT$625.53 billion, which was beforehand reported by the corporate and largely unchanged from a 12 months in the past. In U.S. {dollars}, fourth quarter income got here in at $19.62 billion, down 1.5% year-over-year, however up 13.6% from the earlier quarter.
The gross sales determine had stirred hopes {that a} international hunch within the chip market was ending.
“Our fourth quarter business was supported by the continued strong ramp of our industry-leading 3-nanometer technology,” mentioned Wendell Huang, vice chairman and chief monetary officer of TSMC. “Moving into first quarter 2024, we expect our business to be impacted by smartphone seasonality, partially offset by continued HPC-related demand.”
Gross margin for the quarter was 53%, working margin was 41.6% and internet revenue margin got here in at 38.2%.
The firm mentioned it expects first-quarter income between $18 billion and $18.8 billion, gross revenue margin between 52% and 54% and working revenue margin between 40% and 42%.
Shares of TSMC rose 1.2% in native buying and selling.
Source web site: www.marketwatch.com
