TSMC Posts Higher Q4 Profit

posted a strong rise in its fourth-quarter profit. TSMC's quarterly net profit surged 79% y/y to 79.99 billion New Taiwan dollars (US$2.51 billion). However, analysts were expecting earnings of T$76.46 billion for the quarter. The company's quarterly revenue came in at T$222.5 billion. Full-year earnings climbed 40% to NT$263.9 billion. For the quarter ending March 31, the company projects revenue of NT$221 billion to NT$224 billion revenue. TSMC's announced its plans to increase its capital expenditures to US$11.5 billion to US$12 billion this year, compared to US$9.52 billion in 2014. TSMC shares rose 0.05% to close at $21.06 yesterday.