Summary
Taiwan Semiconductor Manufacturing ADR Misses
Taiwan Semiconductor Manufacturing ADR (TSM) reported 2nd Quarter June 2021 earnings of $0.93 per share on revenue of $13.3 billion. The consensus earnings estimate was $0.89 per share on revenue of $13.0 billion. The Earnings Whisper number was $0.96 per share. Revenue grew 28.0% on a year-over-year basis.
The company said it expects third quarter revenue of $14.60 billion to $14.90 billion. The current consensus revenue estimate is $14.44 billion for the quarter ending September 30, 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
$0.93
Earnings Whisper
$0.96
Consensus Estimate
$0.89
Reported Revenue
$13.29 Bil
Revenue Estimate
$12.96 Bil
Growth
Earnings Growth
Revenue Growth
Earnings Release
TSMC Reports Second Quarter EPS of NT$5.18
Hsinchu, Taiwan, R.O.C., - Jul. 15, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$372.15 billion, net income of NT$134.36 billion, and diluted earnings per share of NT$5.18 (US$0.93 per ADR unit) for the second quarter ended June 30, 2021.
Year-over-year, second quarter revenue increased 19.8% while net income and diluted EPS both increased 11.2%. Compared to first quarter 2021, second quarter results represented a 2.7% increase in revenue and a 3.8% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, second quarter revenue was $13.29 billion, which increased 28.0% year-over-year and increased 2.9% from the previous quarter.
Gross margin for the quarter was 50.0%, operating margin was 39.1%, and net profit margin was 36.1%.
In the second quarter, shipments of 5-nanometer accounted for 18% of total wafer revenue; 7-nanometer accounted for 31%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.
“Our second quarter business was mainly driven by continued strength in HPC and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm and 7nm technologies, driven by all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications.”
For the full earnings release, please go here.
