According to the company’s website news release on October 13, 2022, TSMC (TWSE: 2330, NYSE: TSM) announced consolidated revenue of NT$613.14 billion, net income of NT$280.87 billion, and diluted earnings per share of NT$10.83 (US$1.79 per ADR unit) for the third quarter ended September 30, 2022.
Year-over-year, third quarter revenue increased 47.9% while net income increased 79.7% and diluted EPS increased 79.8%. Compared to second quarter 2022, third quarter results represented a 14.8% increase in revenue and a 18.5% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In US dollars, third quarter revenue was $20.23 billion, which increased 35.9% year-over-year and increased 11.4% from the previous quarter.
Gross margin for the quarter was 60.4%, operating margin was 50.6%, and net profit margin was 45.8%.
In the third quarter, shipments of 5-nanometer accounted for 28% of total wafer revenue; 7-nanometer accounted for 26%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 54% of total wafer revenue.
“Our third quarter business was supported by strong demand for our industry-leading 5nm technologies,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2022, we expect our business to be flattish, as the end market demand weakens, and customers’ ongoing inventory adjustment is balanced by continued ramp-up for our industry-leading 5nm technologies.”
Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2022 to be as follows:
Revenue is expected to be between US$19.9 billion and US$20.7 billion;
And, based on the exchange rate assumption of 1 US dollar to 31.5 NT dollars,
Gross profit margin is expected to be between 59.5% and 61.5%;
Operating profit margin is expected to be between 49% and 51%.
TSMC's 2022 third quarter consolidated results:
