Taiwan Semiconductor's performance exceeded expectations, with a 4.5% surge in night trading
Taiwan Semiconductor's performance exceeded expectations, with a 40.1% increase in revenue in the second quarter. Net profit and earnings per share both increased by 36.3%
In the afternoon, Taiwan Semiconductor announced its second-quarter performance, which exceeded expectations. The night market surged by 4.5% at one point:
Other chip stocks were also driven. SOXL once rose 7%, and NVIDIA rose nearly 2.5% in night trading:
Compared to the same period last year, revenue in the second quarter increased by 40.1%, while net profit and earnings per share both increased by 36.3%. Compared to the first quarter of 2024, the second-quarter performance showed a revenue growth of 13.6% and a net profit growth of 9.9%.
The press release is as follows:
Hsinchu, Taiwan, July 18, 2024 -- Taiwan Semiconductor today announced that its consolidated revenue for the second quarter ended June 30, 2024, was NT$673.51 billion, with a net profit of NT$247.85 billion and diluted earnings per share of NT$9.56 (US$1.48 per American Depositary Share).
In US dollars, second-quarter revenue was $20.82 billion, an increase of 32.8% year-on-year and 10.3% from the previous quarter.
The gross margin for this quarter was 53.2%, operating profit margin was 42.5%, and net profit margin was 36.8%.
In the second quarter, shipments of the 3-nanometer process accounted for 15% of wafer revenue; 5-nanometer accounted for 35%; and 7-nanometer accounted for 17%. Advanced processes (defined as 7-nanometer and more advanced technologies) accounted for 67% of wafer revenue