Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.
“While AI-related demand continues to be strong, it is not enough to offset the overall cyclicality of our business.”Taiwan Semiconductor TSM, -1.54% 2330, +1.11% said its third-quarter net profit fell by 25% to NT$211 billion, as sales fell by 11% to NT$546.73 billion . According to FactSet, its earnings of $1.26 per U.S.-listed share beat analyst estimates of $1.15.
The Nvidia NVDA, -3.96% supplier’s operating margin of 41.7% came in above its own expectations that ranged from 38% to 40%. Revenue is expected to be between US$18.8 billion and US$19.6 billion for the fourth quarter, on an operating margin between 39.5% and 41.5%. Analysts polled by FactSet expected revenue of $18.54 billion.“Due to the persistent weaker overall macroeconomic conditions and slow demand recovery in China, customers remain cautious in their inventory control. Thus, we expect the inventory digestion to continue in the fourth quarter.
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