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TSMC Q3 profit down 0.9 percent, in line with market forecasts

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Reuters TAIPEI

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

TSMC, whose clients include iPhone maker Apple Inc, 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)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 18 2018 | 11:20 AM IST

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