TSMC Reports Second Quarter EPS of NT$2.57
Hsinchu, Taiwan, R.O.C., July
18, 2019 —
TSMC today announced consolidated revenue of NT$241.00 billion, net income of
NT$66.77 billion, and diluted earnings per share of NT$2.57 (US$0.41 per ADR unit) for the second quarter ended June 30, 2019.
Year-over-year,
second quarter revenue increased 3.3% while net income and diluted EPS both decreased 7.6%. Compared to first quarter 2019, second quarter results represented a 10.2% increase in revenue and an 8.7% increase in net income. All figures were prepared
in accordance with TIFRS on a consolidated basis.
In US dollars, second quarter revenue was $7.75 billion, which decreased 1.4% year-over-year and
increased 9.2% from the previous quarter.
Gross margin for the quarter was 43.0%, operating margin was 31.7%, and net profit margin was 27.7%.
In the second quarter, shipments of
7-nanometer
accounted for 21% of total wafer revenue and
10-nanometer
process technology contributed 3% while
16-nanometer
accounted for 23%. Advanced technologies, defined as
16-nanometer
and
more advanced technologies, accounted for 47% of total wafer revenue.
“In the second quarter, our business continued to be impacted by the soft
overall global economic condition; customer inventory management; and
high-end
mobile product seasonality. But we have also passed the bottom of the cycle of our business and began to see demand
increases,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “Driven by new product launches of premium smartphones; the acceleration of 5G deployment; and the increasing adoption of our industry-leading
7-nanometer
solutions by High Performance Computing applications, we expect our third quarter business to further improve. Based on our current business outlook, management expects the overall performance for third
quarter 2019 to be as follows”:
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Revenue is expected to be between US$9.1 billion and US$9.2 billion;
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And, based on the exchange rate assumption of 1 US dollar to 31.0 NT dollars,
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Gross profit margin is expected to be between 46% and 48%;
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Operating profit margin is expected to be between 35% and 37%
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