Summary
Taiwan Semiconductor Manufacturing Beats
Taiwan Semiconductor Manufacturing (TSM) reported 1st Quarter March 2021 earnings of $1.00 per share on revenue of $12.9 billion. The consensus earnings estimate was $0.95 per share on revenue of $12.9 billion. The Earnings Whisper number was $0.99 per share. Revenue grew 25.4% on a year-over-year basis.
The company said it expects second quarter revenue of $12.90 billion to $13.20 billion. The current consensus revenue estimate is $13.15 billion for the quarter ending June 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
$1.00
Earnings Whisper
$0.99
Consensus Estimate
$0.95
Reported Revenue
$12.92 Bil
Revenue Estimate
$12.86 Bil
Growth
Earnings Growth
Revenue Growth
Earnings Release
TSMC Reports First Quarter EPS of NT$5.39
Hsinchu, Taiwan, R.O.C., Apr. 15, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$362.41 billion, net income of NT$139.69 billion, and diluted earnings per share of NT$5.39 (US$0.96 per ADR unit) for the first quarter ended March 31, 2021.
Year-over-year, first quarter revenue increased 16.7% while net income and diluted EPS both increased 19.4%. Compared to fourth quarter 2020, first quarter results represented a 0.2% increase in revenue and a 2.2% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, first quarter revenue was $12.92 billion, which increased 25.4% year-over-year and increased 1.9% from the previous quarter.
Gross margin for the quarter was 52.4%, operating margin was 41.5%, and net profit margin was 38.6%.
In the first quarter, shipments of 5-nanometer accounted for 14% of total wafer revenue; 7-nanometer accounted for 35%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.
“Our first quarter business was supported by HPC-related demand, balanced by a milder smartphone seasonality than in recent years,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into second quarter 2021, we expect our revenue to be flattish, as HPC-related demand will continue to grow, offset by smartphone seasonality.”
For the full earnings release, please go here.
