TSMC’s Third-Quarter Net Profit Fell on Weaker Demand for Smartphones, High-Speed Computing

Taiwan Semiconductor Manufacturing Co.’s net profit dropped in the third quarter, as revenue from chips used in smartphones and high-speed computing fell, though it projected stronger revenue in the current quarter.

The world’s largest contract chip maker said Thursday that net profit slid 25% from a year earlier to 211.0 billion New Taiwan dollars (US$6.51 billion). That beat the estimate of NT$189.70 billion in a poll of analysts by S&P Global Market Intelligence.