Eleanor Alcott reports from Hong Kong
Taiwan Semiconductor Manufacturing Co (TSMC) reported strong earnings but was cautious about the outlook. TSMC is expected to “grow slightly” in 2023 due to a cyclical downturn in the chip industry, the company said.
The world’s largest chip contract maker reported a 78 percent jump in net profit to NT$295.9 billion ($9.6 billion) in the fourth quarter from a year earlier, beating analysts’ forecast of NT$287.4 billion, with favorable exchange rates And cost cutting boosted profitability.
But TSMC CEO CC Wei said on Thursday’s earnings call…
