Taiwan Semiconductor Manufacturing (NYSE: TSM ) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Taiwan Semiconductor Manufacturing beat slightly on revenues and beat expectations on earnings per share.
Compared with the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped.
Margins dropped across the board.
Taiwan Semiconductor Manufacturing notched revenue of $3.57 billion. The 20 analysts polled by S&P Capital IQ predicted revenue of $3.52 billion on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $3.58 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.22. The three earnings estimates compiled by S&P Capital IQ averaged $0.19 per share. GAAP EPS of $0.04 for Q1 were 20% lower than the prior-year quarter's $0.05 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 47.7%, 130 basis points worse than the prior-year quarter. Operating margin was 33.6%, 360 basis points worse than the prior-year quarter. Net margin was 31.7%, 270 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $4.00 billion. On the bottom line, the average EPS estimate is $0.22.
Next year's average estimate for revenue is $16.25 billion. The average EPS estimate is $0.97.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,367 members out of 1,411 rating the stock outperform, and 44 members rating it underperform. Among 338 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 334 give Taiwan Semiconductor Manufacturing a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Taiwan Semiconductor Manufacturing is outperform, with an average price target of $14.80.
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