Summary
Taiwan Semiconductor Manufacturing ADR Beats
Taiwan Semiconductor Manufacturing ADR (TSM) reported 3rd Quarter September 2021 earnings of $1.08 per share on revenue of $14.9 billion. The consensus earnings estimate was $1.05 per share on revenue of $14.8 billion. The Earnings Whisper number was $1.06 per share. Revenue grew 22.6% on a year-over-year basis.
The company said it expects fourth quarter revenue of $15.40 billion to $15.70 billion. The current consensus revenue estimate is $15.45 billion for the quarter ending December 31, 2021.
Taiwan Semiconductor Manufacturing Co Ltd engages in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices, it also manufactures masks.
Results
Reported Earnings
$1.08
Earnings Whisper
$1.06
Consensus Estimate
$1.05
Reported Revenue
$14.88 Bil
Revenue Estimate
$14.82 Bil
Growth
Earnings Growth
Revenue Growth
Earnings Release
TSMC Reports Third Quarter EPS of NT$6.03
Hsinchu, Taiwan, R.O.C., Oct. 14, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$414.67 billion, net income of NT$156.26 billion, and diluted earnings per share of NT$6.03 (US$1.08 per ADR unit) for the third quarter ended September 30, 2021.
Year-over-year, third quarter revenue increased 16.3% while net income and diluted EPS both increased 13.8%. Compared to second quarter 2021, third quarter results represented a 11.4% increase in revenue and a 16.3% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, third quarter revenue was $14.88 billion, which increased 22.6% year-over-year and increased 12.0% from the previous quarter.
Gross margin for the quarter was 51.3%, operating margin was 41.2%, and net profit margin was 37.7%.
In the third quarter, shipments of 5-nanometer accounted for 18% of total wafer revenue; 7-nanometer accounted for 34%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 52% of total wafer revenue.
“Our third quarter business was mainly supported by strong demand across all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm technology.”
For the full earnings release, please go here.
