TSMC Posts Higher Q4 Profit

Taiwan Semiconductor Manufacturing Co TSM reported a 7.7% rise in its fourth-quarter net profit. TSMC's quarterly net profit surged to 44.81 billion New Taiwan dollars (US$1.49 billion), from a year-ago profit of NT$41.60 billion. However, analysts were expecting a profit of NT$41.76 billion. Its revenue climbed 10.9% to NT$145.81 billion versus NT$131.45 billion. TSMC's shares closed at $17.56 yesterday.