TSMC Announced First Quarter 2015 Revenue

[hist78]

The result announced yesterday is very good. TSMC achieved a YoY revenue growth almost 50% while maintaining a 38.5%-40.5% (forecast) operating margin. This is really a sharp contrast to Intel's almost flat first quarter YoY growth. Intel revised 1Q2015 revenue forecast is from US$12.5 billion to $13.1 billion verse $12.764 billion of 1Q2014. This is another clear indication the dynamic of semiconductor industry is changing rapidly.

TSMC first quarter earnings conference and conference call will be held on April 16, 2015.

TSMC 1Q 2015 Revenue

[table] style="width: 319px"
|-
| rowspan="2" style="height: 42px; width: 116px" | Month
| colspan="2" style="width: 203px" | Consolidated
|-
| style="height: 21px; width: 99px" | Net Revenue
| style="width: 105px" | YoY Change
|-
| style="height: 21px; width: 116px" | Jan.
| style="width: 99px" | 87,120
| style="width: 105px" | 69.40%
|-
| style="height: 21px; width: 116px" | Feb.
| style="width: 99px" | 62,645
| style="width: 105px" | 33.80%
|-
| style="height: 21px; width: 116px" | Mar.
| style="width: 99px" | 72,269
| style="width: 105px" | 44.70%
|-
| style="height: 21px; width: 116px" | 1Q2015
| 222,034
| 49.80%
|-
[/table]
Unit: Millions of New Taiwan Dollars
Source: Taiwan Semiconductor Manufacturing Company Limited




Guidance

[table] style="width: 425px"
|-
| rowspan="2" style="height: 42px; width: 116px" |
| colspan="2" style="width: 203px" | 4Q14
| style="width: 106px" | 1Q15
|-
| style="height: 21px; width: 99px" | Actual
| style="width: 105px" | Guidance
| style="width: 106px" | Guidance
|-
| style="height: 33px; width: 116px" | Net Revenue (NT$ billion)
| style="width: 99px" | 222.52
| style="width: 105px" | 217-220
| style="width: 106px" | 221-224
|-
| style="height: 21px; width: 116px" | Gross Margin
| style="width: 99px" | 49.70%
| style="width: 105px" | 48%-50%
| style="width: 106px" | 48.5%-50.5%
|-
| style="height: 33px; width: 116px" | Operating Margin
| style="width: 99px" | 39.60%
| style="width: 105px" | 38%-40%
| style="width: 106px" | 38.5%-40.5%
|-
| style="height: 49px; width: 116px" | Exchange Rate (USD/NTD)
| style="width: 99px" | 30.78
| style="width: 105px" | 30.31
| style="width: 106px" | 31.8
|-
[/table]
Source: Taiwan Semiconductor Manufacturing Company Limited

 

[Daniel Nenni]

It will be interesting to see the revenue by technology breakout, especially at 28nm and 20nm. In Q4 it was 30% and 21% respectively. TSMC had a very nice 28nm update at the symposium which I will write about later. Bottom line: I do not see TSMC losing their commanding share of 28nm business anytime soon.

 

[Daniel Nenni]

Here it is:

TSMC Unleashes Aggressive 28nm Strategy!