TAIPEI (Reuters) -Fourth-quarter 2023 revenue for TSMC, the world’s largest contract chipmaker, was largely flat compared with the previous year but still beat both the company’s and market’s expectations.
Revenue in the final three months of last year came in at T$625.5 billion ($20.10 billion), according to Reuters calculations, compared with $19.93 billion in the year-ago period.
That beat TSMC’s previous prediction for fourth-quarter revenue being in a range of between $18.8-19.6 billion, and also beat an LSEG SmartEstimate of T$617.1 billion drawn from 21 analysts.
SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.
For December alone, TSMC reported on Wednesday that revenue fell 8.4% year-on-year to T$176.3 billion, which was down 14.4% compared with the previous month.
($1 = 31.1220 Taiwan dollars)
(Reporting by Faith Hung and Ben Blanchard; Editing by Kim Coghill and Muralikumar Anantharaman)
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