Taiwan Semiconductor Raises Fourth-Quarter Guidance

Taiwan Semiconductor

(TSM) - Get Report

expects fourth-quarter earnings to rise 150% sequentially to about 3.09 billion Taiwan dollars.

The company also expects revenue to rise 22% from the third quarter to about T$39 billion. The estimated earnings are still about 86% below the year-ago quarter, while the revenue is down 39%, but the outlook gave investors encouragement that the protracted decline in the semiconductor sector is ending, and sent TSMC's shares up 57 cents, or 3.6%, to $16.50 on Instinet.

The company predicted full-year 2001 earnings will be T$13.2 billion, or T$0.76 a share.