【完整公開】LIVE 台積電第二季法說會關注資本支出及財測

TL;DR

TSMC reports strong Q2 2024 results driven by advanced technology demand and anticipates continued growth.

Transcript

sorry that that fore he for okay good afternoon everyone and welcome to tsmc's second quarter 2024 earnings conference and conference call this is Jeff Sue tsmc's director of investor relations and your host for today today's event is being webcast live through tsmc's website at ww. tsm.com where you can also download the earnings release materials... Read More

Key Insights

• 💪 TSMC’s Q2 2024 revenue reached USD 20.8 billion, showcasing an increase due to strong demand for cutting-edge technologies.
• 😥 The company attributes a 10 basis point sequential increase in gross margin to operational improvements and favorable foreign exchange costs.
• 👨 Advanced technology nodes, specifically 3nm and 5nm, contributed significantly to TSMC's revenue, accounting for 15% and 35% of wafer revenue, respectively.
• 📽️ The forecast for the semiconductor market in 2024 remains positive, projecting a 10% growth excluding memory components.
• 🔠 TSMC’s capital expenditures for 2024 are expected to be between USD 30 billion and USD 32 billion, focusing predominantly on advanced process technologies.
• 🧘 The introduction of the 2nm and A16 technologies will further solidify TSMC’s leadership position in high-performance computing markets.
• 🌐 Challenges remain in balancing production capacity with the inflationary pressures and cost increases in global manufacturing.

Questions & Answers

Q: What drove the revenue increase in Q2 2024 for TSMC?

The revenue increase of 13.6% in Q2 2024 was primarily supported by robust demand for advanced process technologies, specifically the 3nm and 5nm nodes, despite ongoing smartphone seasonality. TSMC’s operational efficiency and favorable foreign exchange rates also contributed to this positive result.

Q: Can you explain TSMC's guidance for Q3 2024?

TSMC anticipates Q3 2024 revenue between 224.4 billion and 232 billion NT, representing a potential 32% increase year-over-year. This outlook reflects continued strong demand in the smartphone sector and from AI applications, although seasonality and market dynamics will influence final outcomes.

Q: What are the expectations regarding gross margins in the coming quarters?

TSMC projects gross margins in Q3 to be between 53.5% and 55.5%, driven by enhanced capacity utilization and cost improvement efforts. The company also view long-term gross margins of 53% and higher as achievable, despite inflationary pressures and increased costs related to overseas production.

Q: How is TSMC managing capacity amidst high demand from AI applications?

In response to strong AI-related demand, TSMC is closely coordinating with customers to evaluate market conditions and adjust capacity accordingly. Their disciplined capacity planning philosophy aims to ensure they meet client expectations while avoiding over-commitment and maintaining operational efficiency.

Summary & Key Takeaways

• TSMC's Q2 2024 revenue increased by 13.6% sequentially, boosted by high demand for 3 and 5nm technologies, with a gross margin of 53.2%.

• The company forecasts Q3 2024 revenue growth of up to 32% year-over-year, citing strong smartphone and AI-related demand, despite some market seasonality.

• TSMC is focused on managing capacity and investments for advanced technologies, with plans to allocate up to 80% of its 2024 capital budget for these innovations.