TSMC’s Q4 profit to slide 23%, focus on rebounding demand this year

TAIPEI: Taiwan Semiconductor Manufacturing Co Ltd is expected to report a 23% drop in fourth-quarter profit on Thursday, but analysts predict better growth this year on the back of rebounding demand.

The likely decline in profit also reflects a strong performance in 2022, when the company, whose customers include Apple and Nvidia, was still riding high on pent-up post-pandemic demand.

The world’s largest contract chipmaker is set to report net profit of T$226.4 billion ($7.21 billion) for the October to December period – its third straight quarter of profit decline, according to an LSEG SmartEstimate drawn from 20 analysts. SmartEstimates give greater weighting to forecasts from analysts who are more consistently accurate.