Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.52%.
Taiwan Semiconductor Manufacturing Co. Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 22.22% to $0.33 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 20.7% from the year-earlier quarter.
Actual vs. Wall St. Expectations: Taiwan Semiconductor Manufacturing Co. Ltd. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $5.19 billion.
Quoting Management: “Due to the strong demand for our advanced technologies, we have enjoyed a record quarter of both revenue and net income in the second quarter,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “While we continue to expect the demand for our advanced technologies to grow strongly, we expect the IC supply chain to begin managing inventories in the second half of this year, which will moderate somewhat the overall demand for our wafers.”
Key Stats (on next page)…