TSMC, the world's largest contract chipmaker, reported third-quarter revenue of 546.73 billion New Taiwan dollars ($17.28 billion), down 10.83% year-over-year but above analyst expectations. Net income was down 24.87% year-over-year. Though profit and revenue declined from weakened consumer electronics demand, TSMC still beat expectations thanks to ramped-up 3-nanometer chip production and strong 5-nanometer chip demand. For the fourth quarter, TSMC expects revenue between $18.8-19.6 billion, with inventory adjustments continuing to weigh on consumer electronics demand while AI/3nm chip production provides support. In the long term, TSMC is committed to advanced 2-nanometer mass production in 2025 and expanding its US manufacturing presence to boost semiconductor infrastructure.