TSMC third-quarter profit down 0.9 percent, in line with market forecasts

TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) (TSM.N), the world’s largest contract chipmaker, said on Thursday third-quarter net profit fell 0.9 percent.

FILE PHOTO: A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. REUTERS/Tyrone Siu/File Photo

TSMC, whose clients include iPhone maker Apple Inc (AAPL.O), said July-September profit was T$89.07 billion ($2.88 billion). That compared with the T$89.0 billion average forecast drawn from 23 analysts, according to Refinitiv data.

Revenue rose to $8.49 billion, compared with the company’s own estimate of $8.28 billion-$8.38 billion and the average $8.4 billion estimate of 25 analysts, according to Refinitiv data.

($1 = 30.9480 Taiwan dollars)

Reporting By Jess Macy Yu and Yimou Lee; Editing by Muralikumar Anantharaman

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