TSMC Fourth-Quarter Net Profit Rose 16% to Record High — Earnings Review

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by Kosaku Narioka

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Taiwan Semiconductor Manufacturing Company reported fourth-quarter results on Thursday. Here’s what you need to know.

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Net profit: TSMC’s net profit for the quarter ended December rose 16% to a record 166.23 billion New Taiwan dollars (US$6.01 billion) from a year ago. This beat estimates of NT$161.12 billion from a poll of analysts by S&P Global Market Intelligence.

Revenue: Fourth quarter revenue increased 21% from a year ago to NT$438.19 billion, which is also a record high.

What we saw:

– Slower smartphone growth: In 2021, revenue from smartphones grew by 8%, accounting for 44% of total revenue, down from 48% in 2020. Meanwhile, revenue from high-performance computing jumped 34% in 2021, accounting for 37% of total revenue. Overall, up from 33% in 2020.

–CAPEX: TSMC said it expects capital expenditure of between US$40 billion and US$44 billion in 2022. The company spent US$30.04 billion in capex in 2021. It said last April that it would invest US$100 billion over the next three years. To increase production capacity when demand increases.

Write to Kosaku Narioka at [email protected]

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