TSMC posts biggest qtr profit in 2 yrs on chip recovery

TAIPEI, Jan 28 (BestGrowthStock) – TSMC (2330.TW: ), the world’s top
contract chip maker, posted its biggest quarterly net profit in
two years on Thursday after better sales of more advanced chips
for new computers and other high-tech gadgets.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (TSM.N: )
booked a net profit of T$32.67 billion ($102 million) in
October-December, higher than T$12.45 billion a year ago and
higher than the third quarter’s T$30.55 billion, the company said
in a statement.

Ahead of the results, TSMC was expected to earn T$31.22
billion in the fourth quarter, according to a consensus forecast
by Thomson Reuters I/B/E/S.

Analysts expect TSMC and smaller local rival UMC (2303.TW: )
(UMC.N: ) to reap bigger profits this year as they ride a boom in
new computers, mobile phones and flat-screen TVs that require
more powerful chips.

So far this year, TSMC’s Taipei-listed shares have fallen
about 5 percent after a 46 percent jump last year. The main TAIEX
(.TWII: ) is also down 5 percent this year amid fears that China’s
recent moves to tighten liquidity will affect demand for chips.
(US$1=T$32)

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(Reporting by Baker Li, Editing by Dean Yates)

TSMC posts biggest qtr profit in 2 yrs on chip recovery