HSINCHU, Taiwan, R.O.C., Jul. 18, 2024 — TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$673.51 billion, net income of NT$247.85 billion, and diluted earnings per share of NT$9.56 (US$1.48 per ADR unit) for the second quarter ended June 30.
Year-over-year, second quarter revenue increased 40.1 percent while net income and diluted EPS both increased 36.3 percent. Compared to first quarter 2024, second quarter results represented a 13.6 percentincrease in revenue and a 9.9 percent increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, second quarter revenue was $20.82 billion, which increased 32.8 percent year-over-year and increased 10.3 percent from the previous quarter. Gross margin for the quarter was 53.2%, operating margin was 42.5%, and net profit margin was 36.8 percent.
In the second quarter, shipments of 3-nanometer accounted for 15 percent of total wafer revenue; 5- nanometer accounted for 35 percent; 7-nanometer accounted for 17 percent. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 67 percent of total wafer revenue.
“Our business in the second quarter was supported by strong demand for our industry-leading 3nm and 5nm technologies, partially offset by continued smartphone seasonality,” said Wendell Huang, Senior VP and Chief Financial Officer of TSMC. “Moving into third quarter 2024, we expect our business to be supported by strong smartphone and AI-related demand for our leading-edge process technologies.”
Based on the Company’s current business outlook, management expects the overall performance for third quarter 2024 to be as follows:
• Revenue is expected to be between US$22.4 billion and US$23.2 billion; and, based on the exchange rate assumption of 1 US dollar to 32.5 NT dollars,
• Gross profit margin is expected to be between 53.5 percent and 55.5 percent;
• Operating profit margin is expected to be between 42.5 percent and 44.5 percent.
