TSMC (TSM) Tops Q1 EPS by 1c; Guides Q2 Revenue, Profit

Taiwan Semiconductor Manufacturing (NYSE: TSM) reported Q1 profit of $0.31 per ADR, versus the analyst estimate of $0.30 per ADR.

Revenue was NT$148.22 billion, from NT$132.76 billion in the same period last year.

Shipments of 28-nanometer process technology accounted for 34% of total wafer revenues. 40/45-nanometer accounted for 21% of total wafer revenues. Advanced technologies, defined as 40/45-nanometers and more advanced technologies, accounted for 55% of total wafer revenues.

“In the first quarter, we saw much stronger demand for our wafers across all segments but more pronounced in mobile related applications, than we had initially predicted in January,” said Lora Ho, SVP and Chief Financial Officer of TSMC. “Driven by better than expected 4Q’13 business, IC companies have turned more positive on their 2014 outlook. Meanwhile, the low level of supply chain inventory has prompted the IC companies to begin restocking inventory actively. Thanks to the better performance and higher yield and reliability of our advanced technologies, we saw a strong rebound of demand for our leading nodes extending beyond the first quarter. Based on our current business outlook and exchange rate assumption of 1 US dollar to 30.10 NT dollars, management expects overall performance for second quarter 2014 to be as follows”:

For earnings history and earnings-related data on Taiwan Semiconductor Manufacturing (TSM) click here.

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