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TSMC Reports Third Quarter EPS of NT$3.90
Hsinchu, Taiwan, R.O.C., Oct. 17, 2019 -- TSMC today announced consolidated revenue of NT$293.05 billion, net income of NT$101.07 billion, and diluted earnings per share of NT$3.90 (US$0.62 per ADR unit) for the third quarter ended September 30, 2019.
Year-over-year, third quarter revenue increased 12.6% while net income and diluted EPS both increased 13.5%. Compared to second quarter 2019, third quarter results represented a 21.6% increase in revenue and a 51.4% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, third quarter revenue was $9.40 billion, which increased 10.7% year-over-year and increased 21.3% from the previous quarter.
Gross margin for the quarter was 47.6%, operating margin was 36.8%, and net profit margin was 34.5%.
In the third quarter, shipments of 7-nanometer accounted for 27% of total wafer revenue and 10-nanometer process technology contributed 2% while 16-nanometer accounted for 22%. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 51% of total wafer revenue.
“Our third quarter business benefited from new product launches both in premium smartphones and high performance computing applications using TSMC’s industry-leading 7-nanometer technology,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “We expect the strength of demand for our 7-nanometer technology will continue, driven by high-end smartphones, initial 5G deployment and HPC-related applications. Based on our current business outlook, management expects the overall performance for fourth quarter 2019 to be as follows”:
- Revenue is expected to be between US$10.2 billion and US$10.3 billion;
And, based on the exchange rate assumption of 1 US dollar to 30.6 NT dollars,
- Gross profit margin is expected to be between 48% and 50%;
- Operating profit margin is expected to be between 37% and 39%
The management further expects the 2019 capital budget to be between US$14 billion and US$15 billion.
TSMC's 2019 third Quarter Consolidated results:
(Unit: NT$ million, except for EPS)
3Q19 Amount a | 3Q19 Amount | YoY Inc. (Dec.) % | 2Q19 Amount | QoQ Inc. (Dec.) % | |
Net Sales | 293,045 | 260,348 | 12.6 | 240,999 | 21.6 |
Gross profit | 139,412 | 123,367 | 13.0 | 103,730 | 34.4 |
Income from operations | 107,887 | 95,245 | 13.3 | 76,304 | 41.4 |
Income before tax | 112,336 | 98,897 | 13.6 | 80,545 | 39.5 |
Net income | 101,070 | 89,072 | 13.5 | 66,765 | 51.4 |
EPS (NTS) | 3.90b | 3.44b | 13.5 | 2.57b | 51.4 |
a: 3Q2019 figures have not bee approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares
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