https://apnews.com/930dcb557ac944c0a8079aeff547c86e

TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said Thursday its quarterly profit rose 78% over a year earlier but forecast weak demand this year.

Revenue for the final quarter of 2022 rose 42.8% over a year earlier to 625.5 billion New Taiwan dollars ($20.6 billion), the company announced. Profit was 295.9 billion New Taiwan dollars ($9.7 billion).