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World’s second largest semiconductor company, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM), reported the latest results for Q4 of 2023 before the opening bell in Wall Street on Thursday.
TSMC achieved revenue of $19.785 billion in Q4 2023 vs. $19.675 billion expected. Revenue rose by 14.4% from Q3.
Earnings per share was reported at $1.456 per share, which exceeded estimate of $1.385 per share.
Company overview
CEO commentary
“Our fourth quarter business was supported by the continued strong ramp of our industry-leading 3-nanometer technology. Moving into first quarter 2024, we expect our business to be impacted by smartphone seasonality, partially offset by continued HPC-related demand,” Wendell Huang, CFO of the company said in statement to investors.
Stock reaction
The stock rose by over 7% during Thursday’s session after the company posted the latest results, trading at $110.32 a share.
Stock performance
Taiwan Semiconductor Manufacturing stock price targets
Taiwan Semiconductor Manufacturing Co. Ltd. is the 11th largest company in the world with a market cap of $570.66 billion.
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Sources: Taiwan Semiconductor Manufacturing Co. Ltd., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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