Taiwan Semiconductor Manufacturing
reported third-quarter revenue and profit ahead of consensus expectations but warned of weakening demand as reduced consumer spending threatens chip makers.
The world’s largest contract chip maker reported quarterly revenue of 613.14 billion Taiwanese dollars, up 48% from the prior year, and net income of 280.87 billion Taiwanese dollars, up 80%. Taiwan Semiconductor (ticker: TSM) said revenue in U.S. dollars was $20.23 billion, up 36% from the prior year.
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