TSM
$125.23
Taiwan Semiconductor Manufacturing
($1.22)
(.96%)
Earnings Details
4th Quarter December 2020
Thursday, January 14, 2021 6:00:00 AM
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Summary

Taiwan Semiconductor Manufacturing Beats

Taiwan Semiconductor Manufacturing (TSM) reported 4th Quarter December 2020 earnings of $0.97 per share on revenue of $12.7 billion. The consensus earnings estimate was $0.92 per share on revenue of $12.9 billion. The Earnings Whisper number was $0.96 per share. Revenue grew 22.0% on a year-over-year basis.

The company said it expects first quarter revenue of $12.70 billion to $13.00 billion. The current consensus revenue estimate is $12.62 billion for the quarter ending March 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
$0.97
Earnings Whisper
$0.96
Consensus Estimate
$0.92
Reported Revenue
$12.68 Bil
Revenue Estimate
$12.90 Bil
Growth
Earnings Growth
Revenue Growth
Guidance
Power Rating
Grade
Earnings Release

TSMC Reports Fourth Quarter EPS of NT$5.51

Hsinchu, Taiwan, R.O.C., January 14, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$361.53 billion, net income of NT$142.77 billion, and diluted earnings per share of NT$5.51 (US$0.97 per ADR unit) for the fourth quarter ended December 31, 2020.

Year-over-year, fourth quarter revenue increased 14.0% while net income and diluted EPS both increased 23.0%. Compared to third quarter 2020, fourth quarter results represented a 1.4% increase in revenue and a 4.0% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, fourth quarter revenue was $12.68 billion, which increased 22.0% year-over-year and increased 4.4% from the previous quarter.

Gross margin for the quarter was 54.0%, operating margin was 43.5%, and net profit margin was 39.5%.

In the fourth quarter, shipments of 5-nanometer accounted for 20% of total wafer revenue; 7-nanometer and 16-nanometer accounted for 29% and 13% respectively. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 62% of total wafer revenue.

“Our fourth quarter business was supported by strong demand for our industry-leading 5-nanometer technology, driven by 5G smartphone launches and HPC-related applications,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into first quarter 2021, we expect our business to be supported by HPC-related demand, recovery in the automotive segment, and a milder smartphone seasonality than in recent years.”

Based on the Company’s current business outlook, management expects the overall performance for first quarter 2021 to be as follows:

  • Revenue is expected to be between US$12.7 billion and US$13.0 billion;
And, based on the exchange rate assumption of 1 US dollar to 27.95 NT dollars,

  • Gross profit margin is expected to be between 50.5% and 52.5%;
  • Operating profit margin is expected to be between 39.5% and 41.5%.
The management further expects the 2021 capital budget to be between US$25 billion and US$28 billion.

For the full earnings release, please go here