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TSMC sees strong Q4 earnings, but cautious on outlook

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…

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