Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 39.1% year-on-year increase in third-quarter net profit, reaching NT$452.3 billion ($14.76 billion), its highest on record and above market expectations. Analysts had projected around NT$417.7 billion, according to LSEG SmartEstimate data.
The world’s largest contract chipmaker, whose key clients include Nvidia and Apple, benefited from accelerating demand for semiconductors powering artificial intelligence applications, helping offset broader weakness in consumer electronics. [Reuters]
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