Taiwan chipmaker TSMC's third-quarter net profit falls 7.1 percent, beats estimates

Reuters News
Posted: Oct 19, 2017 1:44 AM

TAIPEI (Reuters) - Apple Inc supplier Taiwan Semiconductor Manufacturing Co Ltd on Thursday said net profit fell 7.1 percent in the three months through September, slightly better than analyst estimates.

The world's largest contract chipmaker booked third-quarter profit of T$89.925 billion ($2.98 billion), from T$96.76 billion in the same period a year earlier. The result compared with the T$88.19 billion average of 21 analyst estimates, Thomson Reuters Eikon showed.

Revenue rose to $8.32 billion, up 1.5 percent from a year earlier. That was better than the $8.12 billion to $8.22 billion forecast TSMC issued in July.

(Reporting by Jess Macy Yu; Editing by Christopher Cushing)