Wafer foundry leader TSMC (2330-TW)(TSM-US) held today (14), saying that the second-quarter financial report and the third-quarter financial forecast were better than market expectations, and raised the annual revenue growth rate to 34-36%, and revenue is expected to hit a high quarter by year until the end of the year; As the market worried that the US Federal Reserve (Fed) might raise interest rates more aggressively, the four major US stock indexes fell across the board. TSMC’s ADR stock price was depressed at the opening.
TSMC is driven by the benefits of price increases, coupled with the increased volume of advanced processes, andNew Taiwan DollarDevaluation assists, double-rate over the financial forecast, gross profit margin hit 59.1%, approaching the 60% mark, single-quarter profit of 237.03 billion yuan, a quarterly increase of 16.9%, an annual increase of 76.4%, and a net profit per share of 9.14 yuan, better than market expectations , Gross profit margin, profit and EPS reached the peak again. In the first half of the year, the net profit increased by more than 60%, and the profit per share was 16.96 yuan.
TSMC estimates that the revenue in the third quarter will reach US$19.8-20.6 billion, with a median quarterly growth rate of about 11.2%, which is better than market expectations. The high standard is approaching the 60% mark.
Wei Zhejia, president of TSMC, said that although demand for consumer electronics is weak and some customers are facing inventory adjustments, demand for automotive and data centers is solid. He raised his forecast for US dollar revenue growth this year to 34-36%, which means fourth-quarter revenue. It will continue to rise, breaking the market’s worries that performance may decline compared with the third quarter, and reiterates the target of a compound annual growth rate (CAGR) of 15-20% in the next few years.
However, Wei Zhejia also admitted that due to weaker market demand for smartphones, personal computers and consumer terminals, the supply chain has seen actions to reduce inventory levels, and it is expected that inventory adjustments will continue into the first half of next year.
TSMC originally estimated that capital expenditures this year would reach US$40-44 billion, but TSMC said that due to the lack of labor and materials caused by the epidemic, the delivery time of advanced process and mature process equipment has been extended, and some Capital spending has been deferred until next year, and is estimated to be close to $40 billion this year.