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TSMC Reports Third Quarter EPS of NT$3.44


Hsinchu, Taiwan, R.O.C., October 18, 2018 -- TSMC today announced consolidated revenue of NT$260.35 billion, net income of NT$89.07 billion, and diluted earnings per share of NT$3.44 (US$0.56 per ADR unit) for the third quarter ended September 30, 2018.

Year-over-year, third quarter revenue increased 3.3% while net income and diluted EPS both decreased 0.9%. Compared to second quarter 2018, third quarter results represented an 11.6% increase in revenue and a 23.2% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $8.49 billion, which increased 8.1% from the previous quarter and 1.9% year-over-year.

Gross margin for the quarter was 47.4%, operating margin was 36.6%, and net profit margin was 34.2%.

In the third quarter, shipments of 7-nanometer accounted for 11% of total wafer revenue; 10-nanometer and 16/20-nanometer process technology accounted for 6% and 25% of total wafer revenue respectively; and advanced technologies, defined as 28-nanometer and more advanced technologies, accounted for 61% of total wafer revenue.



TSMC IP Cores

“Our third quarter business benefited from new product launches using TSMC 7-nanometer technology. Although the computer virus incident on August 3 was estimated to have impacted our third quarter revenue and gross margin by about 2 percent and 1 percent respectively, we were able to make up about 75 percent of the affected shipments in the third quarter,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2018, we anticipate our business will continue to benefit from the strong demand for our 7-nanometer technology. Based on our current business outlook, management expects the overall performance for fourth quarter 2018 to be as follows”:

And, based on the exchange rate assumption of 1 US dollar to 30.8 NT dollars,

TSMC's 2018 third Quarter Consolidated results:
(Unit: NT$ million, except for EPS)

3Q18
Amount a
3Q17
Amount
YoY Inc. (Dec.) % 2Q18 Amount QoQ Inc. (Dec.) %
Net Sales 260,348 252,107 3.3 233,276 11.6
Gross profit 123,367 125,880 (2.0) 111,530 10.6
Income from operations 95,245 98,056 (2.9) 84,428 12.8
Income before tax 98,897 100,518 (1.6) 87,587 12.9
Net income 89,072 89,925 (0.9) 72,290 23.2
EPS (NTS) 3.44b 3.47b (0.9) 2.79b 23.2

a: 3Q2018 figures have not bee approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares

TSMC Reports Third Quarter EPS of NT$3.44

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