Taiwan Semiconductor Manufacturing Co Ltd TSM is trading higher Thursday after the company announced better-than-expected fourth-quarter financial results and issued guidance above estimates.
TSMC reported quarterly earnings of $1.15 per share, which beat the estimate of $1.12 per share. The company reported quarterly revenue of $15.74 billion, which beat the estimate of $15.62 billion.
TSMC expects first-quarter revenue to be in a range of $16.6 billion to $17.2 billion versus the estimate of $15.84 billion.
"Our fourth quarter business was supported by strong demand for our industry-leading 5-nanometer technology," said Wendell Huang, vice president and CFO of TSMC.
"Moving into first quarter 2022, we expect our business to be supported by HPC-related demand, continued recovery in the automotive segment, and a milder smartphone seasonality than in recent years," Huang added.
See Also: 20 Stocks Moving in Thursday's Pre-Market Session
TSM Price Action: TSMC has traded as low as $107.58 and as high as $142.19 over a 52-week period.
The stock was up 5.27% at $139.14 at time of publication.
Photo: courtesy of TSMC.
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