Summary
Taiwan Semiconductor ADR Beats
Taiwan Semiconductor ADR (TSM) reported 2nd Quarter June 2022 earnings of $1.55 per share on revenue of $18.2 billion. The consensus earnings estimate was $1.50 per share on revenue of $18.3 billion. The Earnings Whisper number was $1.50 per share. Revenue grew 36.6% on a year-over-year basis.
The company said it expects third quarter revenue of $19.80 billion to $20.60 billion. The current consensus revenue estimate is $19.34 billion for the quarter ending September 30, 2022.
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
$1.55
Earnings Whisper
$1.50
Consensus Estimate
$1.50
Reported Revenue
$18.16 Bil
Revenue Estimate
$18.31 Bil
Growth
Earnings Growth
Revenue Growth
Earnings Release
TSMC Reports Second Quarter EPS of NT$9.14
HSINCHU, Taiwan, R.O.C., Jul. 14, 2022 -- TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$534.14 billion, net income of NT$237.03 billion, and diluted earnings per share of NT$9.14 (US$1.55 per ADR unit) for the second quarter ended June 30, 2022.
Year-over-year, second quarter revenue increased 43.5% while net income and diluted EPS both increased 76.4%. Compared to first quarter 2022, second quarter results represented an 8.8% increase in revenue and a 16.9% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, second quarter revenue was $18.16 billion, which increased 36.6% year-over-year and increased 3.4% from the previous quarter.
Gross margin for the quarter was 59.1%, operating margin was 49.1%, and net profit margin was 44.4%.
In the second quarter, shipments of 5-nanometer accounted for 21% of total wafer revenue; 7- nanometer accounted for 30%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 51% of total wafer revenue.
“Our second quarter business was supported by HPC, IoT and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2022, we expect our business to be supported by continued demand for our industry-leading 5nm and 7nm technologies.”
Based on the Company’s current business outlook, management expects the overall performance for third quarter 2022 to be as follows:
- Revenue is expected to be between US$19.8 billion and US$20.6 billion;
And, based on the exchange rate assumption of 1 US dollar to 29.7 NT dollars,- Gross profit margin is expected to be between 57.5% and 59.5%;
- Operating profit margin is expected to be between 47% and 49%.
For the full earnings release, please go here.
