TSMC Reports Q3 Profit Decline Amidst Weak Consumer Electronics Demand

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Written By Jennifer Joslyn

Taiwan Semiconductor Manufacturing Company (TSMC) reported a third-quarter profit of 211 billion New Taiwan dollars ($6.69 billion), which marked a significant decline in profit due to weak demand for consumer electronics. Despite the decline, TSMC surpassed analysts' expectations, with revenue at 546.73 billion New Taiwan dollars ($17.28 billion) and net income at NT$211 billion. The company cited strong performance in its 3-nanometer and 5-nanometer technologies but noted ongoing inventory adjustments by customers, with CEO C.C. Wei expressing caution about the persistent weaker macroeconomic conditions and slow demand recovery in China. TSMC expects its business in the fourth quarter to be supported by the continued ramp-up of its 3-nanometer technology and strong demand for AI chips but anticipates ongoing inventory adjustments by customers.

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Jennifer Joslyn
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