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TSMC Announces Fourth Quarter 2022 Results

TSMC has published its latest quarterly results, which cover the period that fits with the fourth quarter of 2022, that is, the months of October, November and December. In general terms, the numbers are very good, and confirm that there has been significant year-on-year growth but these results are not so good in a quarterly comparison, that is, compared to the results of the third quarter of the year.

In total, TSMC has posted consolidated revenue of 625 billion Taiwan dollars, a figure that is equivalent, in a direct conversion, to about 20.55 trillion US dollars. Yes, that’s a staggering number, and their net income is also impressive, reaching 295.90 billion Taiwan dollars. In total, diluted earnings per share were NT$11.41, or about 37 US cents.

Year-over-year growth was almost 27% in consolidated revenue. Compared to the fourth quarter of 2021 we have a fantastic result, but if we do the same compared to the third quarter of 2022 we find a drop of 1.5%. It is not a big difference, but the important thing is that it confirms a clear change in trend in the sector, and a drop in demand that could become more pronounced in the coming quarters.

TSMC

Taking a look at the rest of the data we see that gross profit grew by 68%income from operations rose 77.8%, income before taxes also grew 81.1% and net revenue experienced 78% growth. All these percentages are the result of making an annual comparison, that is, between the fourth quarter of 2022 and the fourth quarter of 2021.

5nm node accounted for 32% of total revenue obtained by TSMC from the sale of wafers, while the 7nm node accounted for 22% of the total. In all of 2022, the node that has left the most revenue from the sale of wafers at TSMC has been the 7nm node, with 27%, followed by the 5nm node with 26% and the 16nm node with 13%.

Relatively old nodes such as 28nm and 40-45nm are still generating a lot of revenue, holding a 10% and 7% share, respectively. This has an explanation, and that is that these nodes are used to manufacture simpler and less advanced chips that have a large presence in important markets, such as automobiles.

If we divide by platform, the sectors with the highest percentage growth, in terms of revenue, are High Performance Computing (HPC) and Automotive, with 59% and 74%, respectively.

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