TSMC’s Q4 profit rises 57% to a record, in line with forecast

TAIPEI (Reuters) – Taiwanese chipmaker TSMC said fourth-quarter net profit rose 57% to a record on Thursday, in line with expectations, as it benefits from surging demand for semiconductors used in artificial intelligence processing.

Taiwan Semiconductor Manufacturing (TSMC), the world’s largest contract chipmaker and a major Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA) supplier, saw October to December net profit rise to T$374.68 billion ($11.38 billion) from T$238.7 billion a year earlier.

The profit was broadly in line with a T$377.95 billion LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

($1 = 32.9330 Taiwan dollars)