Taiwan Semiconductor Manufacturing Co. (2330.TW) said its fourth-quarter net profit rose 16% thanks to higher sales.
Net profit was 116.04 billion New Taiwan dollars (US$3.88 billion), compared with NT$99.98 billion a year earlier, the company said Thursday. TSMC supplies chips to technology companies including Apple Inc. and Qualcomm Inc.
Fourth-quarter revenue rose 9.5% from a year ago to NT$317.24 billion, it said. In U.S. dollar terms, TSMC said revenue rose 11% on year to US$10.39 billion.
Operating margin was 39% in the fourth quarter.
The chipmaker said it expects first-quarter revenue to be US$10.2 billion to US$10.3 billion. It also estimates gross profit margin of 49% to 51% and operating profit margin of 38% to 40% in the first quarter.
Write to Ronnie Harui at ronnie.harui@wsj.com
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January 16, 2020 at 01:40PM
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