High inflation and softening demand for consumer electronics kept chip makers under pressure last year. The world’s largest integrated circuit foundry, Taiwan Semiconductor Manufacturing Company Limited (TSM), recently announced its fourth-quarter results, beating the consensus EPS estimate by 3.9%.
Although the company’s revenue rose from the prior-year quarter, it missed the consensus estimate by 1.7% in the last quarter of fiscal 2022. The Hsinchu City, Taiwan-based company’s operating margin of 52% came above its guidance between 49% and 51%. Also, its gross margin in the quarter came in at 62.2%, compared to 52.7% in the year-ago period.
