Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) rose by as much as 12.9% in Thursday morning’s session. The chip manufacturer, a global leader among the third-party companies that turn processor designs into physical products, delivered a mixed earnings report alongside bullish guidance for the next quarter. As of 2:08 p.m. EST, the stock was still up by 9.2%.
Taiwan Semiconductor’s fourth-quarter revenue increased 14% year over year to $12.7 billion. Earnings per share rose from $0.73 to $0.97. Your average analyst was expecting earnings near $0.94 per share on sales in the neighborhood of $12.9 billion.
Looking ahead, TSMC’s first-quarter guidance was for revenues of roughly $12.9 billion. The current Wall Street consensus forecast is for revenues to come in at $12.6 billion.