TAIPEI (Reuters) -Taiwanese chipmaker TSMC posted a 19% drop in fourth-quarter internet revenue on Thursday as international financial woes hit demand for chips utilized in purposes from automobiles to cellphones and servers, however nonetheless beat market forecasts.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a serious Apple Inc and Nvidia provider, noticed October-December internet revenue drop to T$238.7 billion ($7.6 billion) from a very sturdy T$295.9 billion a yr earlier.
The revenue beat a T$226.4 billion LSEG SmartEstimate, which is weighted towards forecasts from analysts who’re extra constantly correct.
TSMC, Asia’s most respected listed firm, stated fourth-quarter income slipped 1.5% year-on-year to $19.62 billion, in step with the corporate’s earlier forecast of $18.8 billion to $19.6 billion.
Capital expenditure within the fourth quarter was $5.24 billion, TSMC stated, in contrast with $7.1 billion within the third quarter.
For the complete yr, capital expenditure got here in at $30.45 billion, lower than a previous forecast of $32 billion for 2023 and a complete of $36.29 billion spent in 2022.
As the most important maker of superior chips, TSMC should navigate an unsure trade outlook and a U.S.-China chip spat that might make it susceptible.
TSMC’s Taipei-listed shares surged 32% final yr. The inventory rose 1.2% on Thursday forward of the outcomes versus a 0.4% acquire for the benchmark index, giving the corporate a market worth of $478.3 billion.
($1 = 31.5550 Taiwan {dollars})
(Reporting by Yimou Lee and Religion Hung; Writing by Ben Blanchard; Enhancing by Muralikumar Anantharaman)