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Taiwan Semiconductor Manufacturing profit misses consensus by 31.1% in Q3

Taiwan Semiconductor Manufacturing Company Ltd said its third-quarter normalized net income came to NT$1.97 per share, compared with the S&P Capital IQ consensus estimate of NT$2.86 per share.

EPS declined year over year from NT$2.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$51.01 billion, a decrease from NT$53.39 billion in the prior-year period.

The normalized profit margin fell to 24.0% from 25.5% in the year-earlier period.

Total revenue rose on an annual basis to NT$212.50 billion from NT$209.05 billion, and total operating expenses grew 6.1% on an annual basis to NT$132.20 billion from NT$124.62 billion.

Reported net income declined on an annual basis to NT$75.33 billion, or NT$2.91 per share, from NT$76.23 billion, or NT$2.94 per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.