Taiwan Semiconductor Climbs on Fourth-Quarter Earnings Beat

Taiwan Semiconductor (TSM) - Get Report shares were higher Friday after the company reported record net income of $3.15 billion on revenue that rose 32% year over year to $8.25 billion. Both totals were ahead of analyst expectations. However, the company also forecast weaker first-quarter demand and expects revenue of $7.44 billion in the period. Wall Street is expecting the company to generate $7.67 billion in the quarter.