Hsinchu, Taiwan, R.O.C., Oct. 14, 2021 – TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$414.67 billion, net income of NT$156.26 billion, and diluted earnings per share of NT$6.03 (US$1.08 per ADR unit) for the third quarter ended September 30, 2021.
Year-over-year, third quarter revenue increased 16.3% while net income and diluted EPS both increased 13.8%. Compared to second quarter 2021, third quarter results represented a 11.4% increase in revenue and a 16.3% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, third quarter revenue was $14.88 billion, which increased 22.6% year-over-year and increased 12.0% from the previous quarter.
Gross margin for the quarter was 51.3%, operating margin was 41.2%, and net profit margin was 37.7%.
In the third quarter, shipments of 5-nanometer accounted for 18% of total wafer revenue; 7-nanometer accounted for 34%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 52% of total wafer revenue.
“Our third quarter business was mainly supported by strong demand across all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm technology.”
Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2021 to be as follows:
- Revenue is expected to be between US$15.4 billion and US$15.7 billion;
And, based on the exchange rate assumption of 1 US dollar to 28.0 NT dollars,
- Gross profit margin is expected to be between 51% and 53%;
- Operating profit margin is expected to be between 39% and 41%.
The above guidance includes expenses related to TSMC’s donation of vaccines, which impacts operating margin by approximately one percentage point in the fourth quarter.
TSMC's 2021 thirdQuarter Consolidated results:
(Unit: NT$ million, except for EPS)
| ||3Q21 |
|YoY Inc. (Dec.) % ||2Q20 Amount ||QoQ Inc. (Dec.) % |
|Net Sales ||414,671 ||356,426 ||16.3 ||372,145 ||11.4 |
|Gross profit ||212,746 ||190,494 ||11.7 ||186,197 ||14.3 |
|Income from operations ||171,004 ||150,048 ||14.0 ||145,667 ||17.4 |
|Income before tax ||173,852 ||155,124 ||12.1 ||149,391 ||16.4 |
|Net income ||156,259 ||137,310 ||13.8 ||134,359 ||16.3 |
|EPS (NTS) ||6.03b ||5.30b ||13.8 ||5.18b ||16.3 |
a: 3Q2021 figures have not bee approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares