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TSMC posts strong Q4 results – the stock is rising
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) reported Q4 financial results before the market open in the US on Thursday.
The Taiwanese company reported revenue of $20.554 billion for Q4, falling slightly short of Wall Street estimate of $20.574 billion.
TSMC reported earnings per share (EPS) of $1.875% for the quarter, higher than $1.795 EPS expected.
CFO commentary
”Our fourth quarter business was dampened by end market demand softness, and customers’ inventory adjustment, despite the continued ramp-up for our industry-leading 5nm technologies,” Wendell Huang, VP and CFO said after the results.
”Moving into first quarter 2023, as overall macroeconomic conditions remain weak, we expect our business to be further impacted by continued end market demand softness, and customers’ further inventory adjustment,” Huang looked ahead.
The company expects the revenue of between $16.7 billion and $17.5 billion for Q1.
Stock reaction
Shares of TSMC were up by over 7% on Thursday at $88.07 a share.
Stock performance
TSMC price targets
Taiwan Semiconductor Manufacturing Company Limited is the 10th largest company in the world with a market cap of $454.97 billion.
You can trade Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: Taiwan Semiconductor Manufacturing Company Limited, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap
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