TSMC Q3 Profit Down Year-over-year; Climbs Sequentially - Quick Facts

(RTTNews) - Taiwan Semiconductor Manufacturing Co Ltd. (TSM) Thursday reported weak profit and sales in its third quarter. On a sequential basis, results climbed.

For the third quarter, net income dropped 7.1 percent to NT$89.93 billion from NT$96.76 billion last year. Earnings per share declined to NT$3.47 from NT$3.73 last year. Earnings were $0.57 per ADR unit.

On a sequential basis, net income climbed 35.7 percent.

Net sales for the quarter fell 3.2 percent to NT$252.11 billion from NT$260.41 billion a year ago. Sales climbed 17.9 percent from the preceding second quarter.

In US dollars, third-quarter revenue was $8.32 billion, which increased increased 1.5 percent year-over-year and 17.9 percent sequentially.

Gross margin for the quarter was 49.9 percent, operating margin was 38.9 percent, and net profit margin was 35.7 percent.

In the third quarter, shipments of 10-nanometer accounted for 10 percent of total wafer revenue.