Taiwan Semiconductor (NYSE:TSM) stock is heading higher Thursday following the release of its earnings report for the fourth quarter of 2021.
Let’s jump into that earnings report below to see why it’s boosting TSM stock higher today!
- The company starts off its Q4 results with diluted earnings per share of $1.15.
- That’s a boon for the company’s stock as it beats out Wall Street’s estimate of $1.12 for the quarter.
- It also represents a 16.4% increase from the same period of the year prior.
- Revenue for the year comes in at $15.74 billion.
- That’s another win for TSM stock compared to analysts’ revenue estimate of $15.67 billion.
- The company’s revenue is also up 24.1% year-over-year.
- Taiwan Semiconductor’s outlook for Q1 2021 is also a highlight of its earnings report.
- It’s expecting revenue for the quarter to range from $16.6 billion and $17.2 billion.
- That would have it beating out Wall Street’s estimate of $15.84 billion for the period.
Wendell Huang, vice president and CFO of Taiwan Semiconductor, said the following in the earnings report sending TSM stock higher today.
“Our fourth quarter business was supported by strong demand for our industry-leading 5-nanometer technology. Moving into first quarter 2022, we expect our business to be supported by HPC-related demand, continued recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”
TSM stock is also seeing heavy trading on today’s earnings news. That has some 29 million shares of the stock changing hands as of this writing. For the record, the company’s daily average trading volume is roughly 9.1 million shares.
TSM stock is up 6.5% as of Thursday morning.
There’s more stock market news for investors to dive into below!
InvestorPlace has all the latest stock coverage traders need for Thursday. Among that is what has Delta Air Lines (NYSE:DAL) stock rising, this morning’s biggest pre-market stock movers, as well as price predictions for Shopify (NYSE:SHOP). You can learn more about that at the following links!
More Stock Market News for Thursday
- DAL Stock Alert: 11 Reasons Why Delta Airlines Shares Are Getting a Lift Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- SHOP Stock Price Predictions: Where Will Shopify Go After 20% Stumble?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.