TSMC Reports Second Quarter EPS of NT$9.14

HSINCHU, Taiwan, R.O.C., Jul. 14, 2022 -- TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$534.14 billion, net income of NT$237.03 billion, and diluted earnings per share of NT$9.14 (US$1.55 per ADR unit) for the second quarter ended June 30, 2022.

Year-over-year, second quarter revenue increased 43.5% while net income and diluted EPS both increased 76.4%. Compared to first quarter 2022, second quarter results represented an 8.8% increase in revenue and a 16.9% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, second quarter revenue was $18.16 billion, which increased 36.6% year-over-year and increased 3.4% from the previous quarter.

Gross margin for the quarter was 59.1%, operating margin was 49.1%, and net profit margin was 44.4%.

In the second quarter, shipments of 5-nanometer accounted for 21% of total wafer revenue; 7- nanometer accounted for 30%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 51% of total wafer revenue.

“Our second quarter business was supported by HPC, IoT and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2022, we ,expect our business to be supported by continued demand for our industry-leading 5nm and 7nm technologies.”

Based on the Company’s current business outlook, management expects the overall performance
for third quarter 2022 to be as follows:

• Revenue is expected to be between US$19.8 billion and US$20.6 billion;

And, based on the exchange rate assumption of 1 US dollar to 29.7 NT dollars,

• Gross profit margin is expected to be between 57.5% and 59.5%;
• Operating profit margin is expected to be between 47% and 49%.

TSMC's 2022 second Quarter Consolidated results:
(Unit: NT$ million, except for EPS)

	2Q22 Amount a	2Q21 Amount	YoY Inc. (Dec.) %	1Q22 Amount	QoQ Inc. (Dec.) %
Net Sales	534,141	372,145	43.5	491,076	8.8
Gross profit	315,468	186,197	69.4	273,203	15.5
Income from operations	262,124	145,667	79.9	223,790	17.1
Income before tax	265,998	149,391	78.1	226,832	17.3
Net income	237,027	134,359	76.4	202,733	16.9
EPS (NTS)	9.14b	5.18b	76.4	7.82b	16.9

a: 2Q2022 figures have not bee approved by Board of Directors

b: Based on 25,930 million weighted average outstanding shares