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TSMC Earnings 3Q22

jms_embedded

Active member
Financial results are out... https://investor.tsmc.com/english/quarterly-results/2022/q3

====

Hsinchu, Taiwan, R.O.C., October 13, 2022 -- TSMC today announced consolidated revenue of NT$613.14 billion, net income of NT$280.87 billion, and diluted earnings per share of NT$10.83 (US$1.79 per ADR unit) for the third quarter ended September 30, 2022.

Year-over-year, third quarter revenue increased 47.9% while net income increased 79.7% and diluted EPS increased 79.8%. Compared to second quarter 2022, third quarter results represented an 14.8% increase in revenue and a 18.5% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $20.23 billion, which increased 35.9% year-over-year and increased 11.4% from the previous quarter.

Gross margin for the quarter was 60.4%, operating margin was 50.6%, and net profit margin was 45.8%.

In the third quarter, shipments of 5-nanometer accounted for 28% of total wafer revenue; 7- nanometer accounted for 26%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 54% of total wafer revenue.

“Our third quarter business was supported by strong demand for our industry-leading 5nm technologies,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2022, we expect our business to be flattish, as the end market demand weakens, and customers’ ongoing inventory adjustment is balanced by continued ramp-up for our industry-leading 5nm technologies.”

Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2022 to be as follows:

• Revenue is expected to be between US$19.9 billion and US$20.7 billion;
And, based on the exchange rate assumption of 1 US dollar to 31.5 NT dollars,
• Gross profit margin is expected to be between 59.5% and 61.5%;
• Operating profit margin is expected to be between 49% and 51%.
 

Daniel Nenni

Admin
Staff member
Are you surprised? A minor reduction in CAPEX due to 7nm slow down. Remember, Samsung 7nm did pretty good but Samsung 5nm and 4nm had serious PDK/yield problems and Samsung 3nm is not really competitive against TSMC N3 and it requires new design considerations for GAA.

I still see double digit growth for TSMC in 2023. N5, N4, N3 are going to be record setting nodes, especially N3, absolutely.
 

Barnsley

Active member
Financial results are out... https://investor.tsmc.com/english/quarterly-results/2022/q3

====

Hsinchu, Taiwan, R.O.C., October 13, 2022 -- TSMC today announced consolidated revenue of NT$613.14 billion, net income of NT$280.87 billion, and diluted earnings per share of NT$10.83 (US$1.79 per ADR unit) for the third quarter ended September 30, 2022.

Year-over-year, third quarter revenue increased 47.9% while net income increased 79.7% and diluted EPS increased 79.8%. Compared to second quarter 2022, third quarter results represented an 14.8% increase in revenue and a 18.5% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $20.23 billion, which increased 35.9% year-over-year and increased 11.4% from the previous quarter.

Gross margin for the quarter was 60.4%, operating margin was 50.6%, and net profit margin was 45.8%.

In the third quarter, shipments of 5-nanometer accounted for 28% of total wafer revenue; 7- nanometer accounted for 26%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 54% of total wafer revenue.

“Our third quarter business was supported by strong demand for our industry-leading 5nm technologies,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2022, we expect our business to be flattish, as the end market demand weakens, and customers’ ongoing inventory adjustment is balanced by continued ramp-up for our industry-leading 5nm technologies.”

Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2022 to be as follows:

• Revenue is expected to be between US$19.9 billion and US$20.7 billion;
And, based on the exchange rate assumption of 1 US dollar to 31.5 NT dollars,
• Gross profit margin is expected to be between 59.5% and 61.5%;
• Operating profit margin is expected to be between 49% and 51%.
Looks teŕrible.

What are the management going to do?
 

hist78

Well-known member
Financial results are out... https://investor.tsmc.com/english/quarterly-results/2022/q3

====

Hsinchu, Taiwan, R.O.C., October 13, 2022 -- TSMC today announced consolidated revenue of NT$613.14 billion, net income of NT$280.87 billion, and diluted earnings per share of NT$10.83 (US$1.79 per ADR unit) for the third quarter ended September 30, 2022.

Year-over-year, third quarter revenue increased 47.9% while net income increased 79.7% and diluted EPS increased 79.8%. Compared to second quarter 2022, third quarter results represented an 14.8% increase in revenue and a 18.5% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $20.23 billion, which increased 35.9% year-over-year and increased 11.4% from the previous quarter.

Gross margin for the quarter was 60.4%, operating margin was 50.6%, and net profit margin was 45.8%.

In the third quarter, shipments of 5-nanometer accounted for 28% of total wafer revenue; 7- nanometer accounted for 26%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 54% of total wafer revenue.

“Our third quarter business was supported by strong demand for our industry-leading 5nm technologies,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2022, we expect our business to be flattish, as the end market demand weakens, and customers’ ongoing inventory adjustment is balanced by continued ramp-up for our industry-leading 5nm technologies.”

Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2022 to be as follows:

• Revenue is expected to be between US$19.9 billion and US$20.7 billion;
And, based on the exchange rate assumption of 1 US dollar to 31.5 NT dollars,
• Gross profit margin is expected to be between 59.5% and 61.5%;
• Operating profit margin is expected to be between 49% and 51%.

Based on this Q3 2022 earnings conference call, TSMC 2022 revenue will be around US$76.26 billion. It represents a 34.21% increase from its US$56.82 billion 2021 revenue.


$17.57 Q1 2022
$18.16 Q2 2022
$20.23 Q3 2022
$20.3 Q4 2022 (average of $19.9 and $20.7 billion guidance)
Unit: Billion US$
 

Barnsley

Active member
I'm sorry, I missed the terrible part. Please explain.

Was being facecious , sorry.

The forecast end of the semiconductor world is somewhat baffling.

Billions and Biliions and Billions and Billions of profit being made and spent within the industry.

When losses kick in and companies have zero spending then I will start to believe
 

SailorBob

New member
I wonder how much this slowdown will effect DC. One of the AMD execs was talking about seeing a little bit of pull out in DC orders a few weeks ago, wonder if that's accelerating at all.
 

nghanayem

Well-known member
Are you surprised? A minor reduction in CAPEX due to 7nm slow down. Remember, Samsung 7nm did pretty good but Samsung 5nm and 4nm had serious PDK/yield problems and Samsung 3nm is not really competitive against TSMC N3 and it requires new design considerations for GAA.

I still see double digit growth for TSMC in 2023. N5, N4, N3 are going to be record setting nodes, especially N3, absolutely.
To say nothing of the equipment pushouts that everyone is complaining about (although I suspect that this is at least partially an excuse to cover up the industry slow down).

I totally agree that N3 is going to be a big node like N7, but I'm curious if you think it'll be the last? Or do you think that at this point the only people left designing ICs on the leading edge are going to keep buying whatever the new hotness is?
 
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