TSMC (TSM/2330 TT) Q1 2026 (TWD) Net Income 572.5bln (exp. 542.38bln), Revenue 1.13tln (prev. 839.3bln Y/Y), Op. Profit 659bln (prev. 407.1bln Y/Y)
Other Metrics:
- Op. Margin 58.1% (prev. 48.5% Y/Y, prev. guided 54-56%).
- Gross Margin 66.2% (exp. 64.5%, prev. 58.8% Y/Y, prev. guided 63-65%).
- Capex 11.1bln (prev. 11.5bln Q/Q).
- Advanced Nodes account for 74% of Q1 wafer sales.
Revenue breakdown:
- Q1 Revenue from smartphones -11% Q/Q.
- Q1 Revenue from high performance computing +20% Q/Q.
- From a geographic perspective, revenue from customers based in North America accounted for 76% of total net revenue in 1Q26, while revenue from Asia Pacific, China, Japan, and EMEA (Europe, Middle East, and Africa) accounted for 9%, 7%, 4%, and 4% of total net revenue respectively.
Context
TSMC's earnings report for Q1 2026 shows a strong performance, with net income exceeding expectations significantly. This suggests robust operational efficiency and a solid demand trajectory, particularly in high-performance computing, which could influence investor sentiment positively toward tech equities. The improvements in margins also reflect better cost management and potentially lift outlooks for peer companies in the semiconductor sector.
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