Taiwan · Delayed Price · Currency is TWD Taiwan Semiconductor Manufacturing Company Earnings Call Transcripts
Fiscal Year 2026
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Revenue and margins rose strongly in Q1 2026, driven by AI and HPC demand. Guidance for Q2 and full-year 2026 points to continued robust growth, with CapEx at the high end of the range to address persistent supply tightness and multi-year AI megatrends.
Fiscal Year 2025
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Q4 2025 saw revenue and margins exceed guidance, driven by strong AI and HPC demand. 2026 revenue is forecast to grow nearly 30%, with significant CapEx planned for advanced technologies and global expansion. Capacity remains tight, with AI as a key growth driver.
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Q3 2025 saw revenue of $33.1B, up 10.1% sequentially, with gross margin at 59.5% and strong AI-driven demand. Q4 guidance projects up to 22% year-over-year revenue growth, with robust CapEx plans and continued global expansion to meet leading-edge technology needs.
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Q2 2025 revenue and EPS surged on strong AI and HPC demand, with advanced nodes driving 74% of wafer revenue. Gross margin dipped slightly due to FX and overseas fab ramp-up, but operating margin improved. Q3 guidance points to continued growth, with robust AI and HPC demand offsetting FX and margin dilution risks.
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Q1 2025 saw revenue of $25.5B, with strong AI demand offsetting smartphone weakness and earthquake impacts. Q2 revenue is guided up 13% sequentially, with full-year growth expected near mid-20% in USD. Major global expansion and robust AI-driven growth continue.
Fiscal Year 2024
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Q4 2024 saw strong sequential and year-over-year growth, led by advanced technologies and surging AI demand. Gross margin improved, with robust cash flow and aggressive global expansion. 2025 guidance points to continued revenue growth, though overseas fab ramp-up and inflation will pressure margins.
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Q3 2024 saw strong revenue and margin growth, driven by AI and smartphone demand, with advanced technologies accounting for 69% of wafer revenue. Q4 guidance points to continued double-digit growth, while overseas expansion and rising costs are expected to modestly impact margins.
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Q2 2024 saw strong revenue and margin growth, led by advanced nodes and AI/HPC demand. Guidance for Q3 and full-year 2024 was raised, with continued tight capacity and robust CapEx for advanced technologies. Gross margin is expected to remain above 53% despite overseas fab dilution.