Why Taiwan Semiconductor (TSMC) Stock Is Surging Today
Shares of chip giant Taiwan Semiconductor Manufacturing (NYSE: TSM), better known as TSMC, were trading higher on Thursday after the company reported earnings that beat estimates. Management also provided upbeat guidance for the current quarter.
As of 11:30 a.m. ET today, TSMC's shares were up about 6.5% from Wednesday's closing price.
TSMC reported its fourth-quarter earnings before the U.S. markets opened on Thursday, and they were good: The company earned $1.15 per share on $15.74 billion in revenue, up 6.4% and 5.7%, respectively, from the third quarter -- and both above Wall Street's estimates.
Source Fool.com
