TSMC Q4 net profit +7.7%; sees growth continuing in 2014

Taiwan Semiconductor Manufacturing Company's (TSM) Q4 net profit rose 7.7% on year to NT$44.81B (U.S.$1.49B) and topped consensus of NT$42B, boosted by growth from chips used in mobile devices.

Revenue climbed 11% to NT$145.81B.

EPS NT$1.73 (U.S.$0.29 per ADR unit).

TSMC expects double-digit growth in sales in 2014 and for profit to increase as well. However, it forecasts that Q1 sales will fall up to 6.7% on quarter to NT$136-138B, due to inventory corrections in the supply chain.

Share +1.9% in Taiwan. (PR)

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