Taiwan · Delayed Price · Currency is TWD Taiwan Semiconductor Manufacturing Company Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw record revenue and gross margin, driven by robust AI and HPC demand, with advanced nodes making up 77% of wafer revenue. CapEx for 2026 was raised to $60B-$64B, including a $100B Arizona investment, and full-year revenue growth is projected above 40% year-over-year.
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Revenue and margins rose sequentially, driven by strong AI and HPC demand, with advanced technologies accounting for 74% of wafer revenue. CapEx is set at the high end of guidance to address persistent supply tightness, and full-year revenue growth is expected above 30%.
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 revenue declined sequentially due to smartphone seasonality but was supported by strong AI demand and rapid recovery from a major earthquake. Guidance for Q2 points to robust sequential and YoY growth, with AI accelerators expected to double revenue in 2025. Overseas expansion and margin dilution risks are being managed proactively.
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 sequential revenue and margin growth, driven by robust AI and smartphone demand for advanced nodes. Q4 guidance points to continued double-digit growth, with full-year revenue expected to rise nearly 30% in USD. Overseas expansion and rising costs will pressure margins.
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Q2 2024 saw strong revenue and margin growth, driven by advanced nodes and robust AI/HPC demand. Guidance for Q3 and full-year 2024 was raised, with continued tightness in advanced packaging and leading-edge capacity. Long-term gross margin of 53%+ reaffirmed.