Taiwan Semiconductor Manufacturing Company Limited Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Quarterly Performance (Q4 2023 vs Q3 2023)

  • Revenue increased 14.4% QoQ in NT$ terms (13.6% in USD), driven by strong 3nm ramp.
  • Gross margin declined to 53% (down 1.3 percentage points), mainly due to 3nm margin dilution.
  • Operating margin slightly decreased to 41.6% (down 0.1 percentage points).
  • EPS was NT$9.21; ROE reached 28.1%.

Technology Mix (Q4 2023)

  • 3nm: 15% of wafer revenue (up from 6% full-year contribution), driven by strong smartphone and HPC demand.
  • 5nm: 35% of wafer revenue.
  • 7nm: 17% of wafer revenue.
  • Advanced technologies (7nm and below): 67% of wafer revenue.

Platform Contribution (Q4 2023 QoQ)

  • HPC: +17%, 43% of total revenue.
  • Smartphone: +27%, 43% of total revenue.
  • IoT: –29%, 5% of revenue.
  • Automotive: +13%, 5% of revenue.
  • DCE: –35%, 2% of revenue.

Full-Year 2023 Performance

  • Total revenue: US$69 billion, down 8.7% YoY (–4.5% in NT$).
  • Gross margin: 54.4% (down 5.2 percentage points YoY) due to lower utilization and 3nm ramp.
  • Operating margin: 42.6% (down 6.9 percentage points YoY).
  • EPS: NT$32.34 (down 17.5%).
  • CapEx: US$30.45 billion.

Q1 2024 Guidance

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Jeff Su: Good afternoon, everyone, and welcome to TSMC's Fourth Quarter 2023 Earnings Conference and Conference Call. It's great to see everyone in person once again. This is Jeff Su, TSMC's Director of Investor Relations and your host for today. Today's event is being webcast live through TSMC's website at www.tsmc.com, or you can also download the earnings release materials. [Operator Instructions]. The format for today's event will be as follows. First, TSMC's Vice President and CFO, Mr. Wendell Huang, we'll summarize our operations in the fourth quarter 2023 and full year of 2023, followed by our guidance for the first quarter 2024. Afterwards, Mr. Huang, TSMC's CEO, Dr. C. C. Wei, and TSMC's Chairman, Dr. Mark Lu, will jointly provide the company's key messages. Then TSMC's Chairman, Dr. Mark Lu, will host the Q&A session, where all three of our executives will take your questions. As usual, I'd like to remind everybody that today's discussions may contain forward-looking statements that are subject to significant risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. Please refer to the Safe Harbor notice that appears on our press release. And now I would like to turn the microphone over to TSMC's CFO, Mr. Wendell Huang for the summary of operations and the current quarter guidance. Wendell Huang : Thank you, Jeff. Happy New Year, everyone. Thank you for joining us today. My presentation wer

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional