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TSMC Reports Second Quarter EPS of NT$9.14

TSMC (TWSE: 2330, NYSE: TSM) 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%.
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