January 17, 2013 / 5:45 AM / 5 years ago

Taiwan's TSMC Q4 net profit up 32 pct on yr, meets forecasts

TAIPEI, Jan 17 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) reported a 32 percent rise in fourth-quarter profit on Thursday, as robust sales of tablets and smartphones kept its cutting-edge chips in demand.

Net profit for the world’s biggest contract chipmaker in the October-December period was T$41.57 billion ($1.4 billion), in line with the T$41.34 billion average estimate of 23 analysts polled by Thomson Reuters I/B/E/S.

The figure compares with T$49.3 billion in the third quarter and T$31.58 billion for the same quarter a year ago.

TSMC also said it expects that company revenue will decline slightly in the first quarter but that added that supply chain inventory should also dip.

Last month, TSMC chairman Morris Chang predicted 2013 revenue growth of 15-20 percent and said the company’s budget for capital expenditure would grow to around $9 billion in 2013 from $8.3 billion last year.

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