Wafer foundry leader TSMC (2330-TW) announced last year’s financial report and this year’s outlook today (12th), which are roughly in line with market expectations. However, although the inflation rate in the United States continued to cool down in December, the decline was not as good as market expectations. As a result, US stocks opened higher and lower in early trading on Thursday (12th). (TSM-US) Although it bucked the trend in early trading and rose by more than 5% at one point, it was affected byfee halfOpening high and going low dragged down, and the gains converged.
In the fourth quarter of last year, TSMC’s double rate exceeded the financial forecast. The gross profit rate soared to 62.2%. The single-quarter profit was 295.9 billion yuan, a quarterly increase of 5.4%. The annual profit is 1.016 trillion yuan, which is equivalent to earning more than 2.78 billion yuan every day, and the EPS is 39.2 yuan, which is in line with market expectations.
Affected by continued weak terminal demand and further inventory adjustments by customers, TSMC estimates that its revenue in the first quarter will be approximately US$16.7-17.5 billion, with a median quarterly decrease of 14.2%, in line with market expectations.
President Wei Zhejia said that in the first half of the year, US dollar revenue will decline by 4-9% compared with the same period last year, but he is optimistic that as customer inventory is reduced to a healthy level, operations will pick up in the second half of the year, and US dollar revenue will grow compared with the same period last year. Will grow slightly, better than the overall industry average.
TSMC’s capital expenditure this year is about US$32-36 billion, which is flat to about 10% lower than last year, and will continue to increase R&D investment. Aiming at 3nm, Wei Zhejia said that he will start to make a substantial contribution to revenue in the third quarter. This year, he will be in full production, and the annual revenue will account for 4-6%. The progress of 2nm is better than originally expected, and mass production The schedule remains unchanged.