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TSMC Q4 Profit Climbs; Sees Sequentially Lower Revenues In Q1

Taiwan Semiconductor Manufacturing Co Ltd. or TSMC (TSM) reported Thursday that its fourth-quarter net income grew 16.1 percent to NT$116.04 billion from last year's NT$99.98 billion. Earnings per share were NT$4.47 or $0.73 per ADR unit, up from NT$3.86 per share a year ago.

Consolidated revenue grew 9.5 percent to NT$317.24 billion from NT$289.77 billion last year.

In US dollars, fourth-quarter revenue was $10.39 billion, which increased 10.6 percent year-over-year and increased 10.6 percent from the previous quarter.

Looking ahead for the first quarter of fiscal 2020, revenue is expected to be between $10.2 billion and $10.3 billion. The company further expects gross profit margin between 48.5 percent and 50.5 percent and operating profit margin between 37.5 percent and 39.5 percent.

The management further expects the 2020 capital budget to be between $15 billion and $16 billion.

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