From NASDAQ:

TSMC is expected to report a 23% drop in fourth-quarter profit, but analysts predict better growth this year. The company is set to report net profit of T$226.4 billion for the October to December period, compared to T$295.9 billion the year before. The stock price has surged 32% due to chip demand for AI applications.

Despite the expected profit decline, it reflects a strong performance in 2022. TSMC’s revenue in the final three months of last year was T$625.5 billion, beating both the company’s and market’s expectations. Global demand for semiconductors is expected to pick up, leading to a focus on TSMC’s outlook for this year.

Analysts expect TSMC’s first quarter sales to outperform typical slow season seasonality, with mid-20% top-line growth in U.S. dollar terms for the full year. The AI boom has helped drive up the price of TSMC’s shares. The company is due to report at 0600 GMT on Thursday.



Read more: PREVIEW-TSMC’s Q4 profit to slide 23%, focus on rebounding demand this year