Thursday, July 20th 2023

TSMC Announces Q2-2023 Financial Results, Posts EPS of NTD 7.01

TSMC today announced consolidated revenue of NT$480.84 billion, net income of NT$181.80 billion, and diluted earnings per share of NT$7.01 (US$1.14 per ADR unit) for the second quarter ended June 30, 2023. Year-over-year, second quarter revenue decreased 10.0% while net income and diluted EPS both decreased 23.3%. Compared to first quarter 2023, second quarter results represented a 5.5% decrease in revenue and a 12.2% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, second quarter revenue was $15.68 billion, which decreased 13.7% year-over-year and decreased 6.2% from the previous quarter. Gross margin for the quarter was 54.1%, operating margin was 42.0%, and net profit margin was 37.8%. In the second quarter, shipments of 5-nanometer accounted for 30% of total wafer revenue; 7-nanometer accounted for 23%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 53% of total wafer revenue.
"Our second quarter business was impacted by the overall global economic conditions, which dampened the end market demand, and led to customers' ongoing inventory adjustment," said Wendell Huang, VP and Chief Financial Officer of TSMC. "Moving into third quarter 2023, we expect our business to be supported by the strong ramp of our 3-nanometer technologies, partially offset by customers' continued inventory adjustment."

Based on the Company's current business outlook, management expects the overall performance for third quarter 2023 to be as follows:
  • Revenue is expected to be between US$16.7 billion and US$17.5 billion; and, based on the exchange rate assumption of 1 US dollar to 30.8 NT dollars
  • Gross profit margin is expected to be between 51.5% and 53.5%;
  • Operating profit margin is expected to be between 38% and 40%.
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1 Comment on TSMC Announces Q2-2023 Financial Results, Posts EPS of NTD 7.01

#1
Daven
The money is now in fabrication. TSMC is making $16-$20 billion USD per quarter. This use to be the range of revenues for Intel. In my opinion, Intel should move completely to a fab-for-hire only business model. I do not see Intel returning to peak revenues while pursuing a hybrid approach as major chip designers will avoid IFS due to competition challenges.
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Nov 22nd, 2024 02:37 EST change timezone

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