“Taiwan Semiconductor Manufacturing Co., the world’s largest chip fab and a manufacturer of Apple’s A9 chips used in iPhone 6s models, has posted earnings that beat analysts estimates for the quarter and established the company’s highest annual earnings in 29 years,” Daniel Eran Dilger writes for AppleInsider.
“According to a report by Focus Taiwan, TSMC reported NT$306.57 billion ($9.15 billion US) in net profit for 2015, a 16.2 percent annual increase and a record high for the firm. Its consolidated sales rose 10.6 percent to NT$843.497 billion ($25.2 billion US), also a new record. About $3.7 billion of TSMC’s revenue comes from Apple,” Dilger writes. “For the December quarter, TSMC exceeded analysts’ average estimates of NT$68.5 billion to reach NT$72.8 billion ($2.2 billion US) in net income, according to a report by Tim Culpan of Bloomberg.
Dilger writes, “Culpan stated that TSMC’s record quarter comes alongside ‘a move to more sophisticated manufacturing technology,’ and noted that Apple had also forecast record revenue, ‘fueled by customer upgrades and sales in China, even with the Asian country’s economic slowdown.'”
Read more in the full article here.
MacDailyNews Take: We can hardly wait for the 26th!
SEE ALSO:
Apple supplier TSMC raises capex, expects global smartphone shipments to expand – January 14, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016