TSMC beats revenue and profit expectations for third quarter

TSMC posted a third quarter profit of NT$211 billion – its second straight quarter of profit decline – as weak demand for consumer electronics persists.

TSMC posted a third quarter profit of NT$211 billion on Thursday – its second straight quarter of profit decline – as weak demand for consumer electronics persists.The Taiwanese chipmaker is the top producer of the world's most advanced processors, but demand for consumer electronics has plunged post-pandemic.reported a third-quarter profit of 211 billion New Taiwan dollars on Thursday as weak demand for consumer electronics persists.

The chip giant said that revenue increased 13.7% in the third quarter as compared to the second quarter.due to a post-pandemic plunge in the demand for consumer electronics like smartphones and laptops. But analysts have said inventories at smartphone and computer makers are running down and restocking demand is expected to pick up.

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