January 18, 2018 / 5:46 AM / 7 months ago

TSMC Q4 profit edges down but beats forecasts

TAIPEI, Jan 18 (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd, the world’s largest contract chipmaker, reported a 0.9 percent drop in quarterly profit on Thursday.

TSMC, which counts Apple as a major client, booked T$99.29 billion ($3.36 billion) in net profit, just under record profit posted in the same quarter a year earlier.

That beat an average forecast of T$97.78 billion drawn from 20 analysts polled by Thomson Reuters I/B/E/S.

Revenue rose 5.9 percent to T$277.57 billion ($9.4 billion) which compares with the $9.1 billion to $9.2 billion range TSMC had forecast in October. ($1 = 29.5410 Taiwan dollars) (Reporting by Jess Macy Yu; Editing by Edwina Gibbs)

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