TSMC Reports First Quarter EPS of NT$2.37

Hsinchu, Taiwan, R.O.C., April 18, 2019 -- TSMC today announced consolidated revenue of NT$218.70 billion, net income of NT$61.39 billion, and diluted earnings per share of NT$2.37 (US$0.38 per ADR unit) for the first quarter ended March 31, 2019.

Year-over-year, first quarter revenue decreased 11.8% while net income and diluted EPS both decreased 31.6%. Compared to fourth quarter 2018, first quarter results represented a 24.5% decrease in revenue and a 38.6% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, first quarter revenue was $7.10 billion, which decreased 16.1% year-over-year and decreased 24.5% from the previous quarter.

Gross margin for the quarter was 41.3%, operating margin was 29.4%, and net profit margin was 28.1%.

In the first quarter, shipments of 7-nanometer accounted for 22% of total wafer revenue and 10-nanometer process technology contributed 4% while 16-nanometer accounted for 16%. Advanced technologies, defined as 16-nanometer and more advanced technologies, accounted for 42% of total wafer revenue.

TSMC's 2019 fourth Quarter Consolidated results:
(Unit: NT$ million, except for EPS)

a: 1Q2019 figures have not bee approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares

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