The earnings call highlighted strong revenue growth, driven by advanced technology demand and global expansion plans. However, challenges such as foreign exchange impacts and margin dilution from overseas operations were evident. The company's robust performance in HPC and smartphone markets, coupled with record EPS, is tempered by concerns over ongoing exchange rate challenges and fab cost increases.

Company Guidance

In the call, TSMC provided guidance for the third quarter of 2025, expecting revenue to be between TWD 31.8 billion and USD 33 billion, reflecting an 8% sequential increase and a 38% year-over-year increase at the midpoint. The company anticipates a gross margin of 55.5% to 57.5% and an operating margin between 45.5% and 47.5%, based on an exchange rate assumption of $1 to TWD 29. TSMC also maintained its 2025 capital budget at USD 38 billion to USD 42 billion. Despite challenges such as an unfavorable foreign exchange rate and margin dilution from overseas fabs, the company remains committed to leveraging its competitive advantages in manufacturing technology and scale to manage through these headwinds.

Strong Revenue Growth

Second quarter revenue increased 11.3% sequentially in NT and 17.8% in USD terms, surpassing the second quarter guidance, driven by strong demand for 3-nanometer and 5-nanometer technologies.

HPC and Smartphone Growth

HPC revenue increased 14% quarter-over-quarter to account for 60% of total revenue, while smartphone revenue grew by 7% to account for 27%.

Record EPS and ROE

EPS was TWD 15.36, up 60.7% year-over-year, and ROE was 34.8%.

Global Expansion Plans

TSMC announced plans to invest in multiple fabs globally, including six advanced wafer manufacturing fabs in Arizona, two packaging fabs, and a major R&D center, to meet strong AI and HPC demand.

Advanced Process Technology Leadership

3-nanometer process technology accounted for 24% of wafer revenue, with advanced technologies (7nm and below) making up 74% of total wafer revenue.

TSMC (DE:TSFA) Earnings, Revenues Date & History

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DE:TSFA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	2.23 / -	1.675	―	―	―
Jul 17, 2025	2025 (Q2)	2.04 / 2.24	1.259	78.17% (+0.98)
Apr 17, 2025	2025 (Q1)	1.78 / 1.84	1.155	59.33% (+0.69)
Jan 16, 2025	2024 (Q4)	1.89 / 1.88	1.252	50.48% (+0.63)
Oct 17, 2024	2024 (Q3)	1.54 / 1.67	1.081	55.01% (+0.59)
Jul 18, 2024	2024 (Q2)	1.21 / 1.26	0.969	29.96% (+0.29)
Apr 18, 2024	2024 (Q1)	1.12 / 1.16	1.119	3.22% (+0.04)
Jan 18, 2024	2023 (Q4)	1.19 / 1.25	1.61	-22.20% (-0.36)
Oct 19, 2023	2023 (Q3)	0.99 / 1.08	1.458	-25.91% (-0.38)
Jul 20, 2023	2023 (Q2)	0.92 / 0.97	1.313	-26.23% (-0.34)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:TSFA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 17, 2025	€204.50	€213.00	+4.16%
Apr 17, 2025	€133.02	€133.62	+0.45%
Jan 16, 2025	€198.43	€209.76	+5.71%
Oct 17, 2024	€171.56	€188.42	+9.83%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.