– Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) reported earnings of NT$4.47 per share, or US$0.73 per ADR, for the fourth quarter of 2019, vs. US$0.71 per ADR expected.
– Net income increased 16% year-over-year to NT$116.04 billion from NT$100 billion last year
– Net sales advanced 10% to NT$317.24 billion, or US$10.39 billion, from NT$289.77 billion a year earlier, vs. US$10.46 billion expected
— Fourth-quarter gross margin came in at 50.2%, and operating margin at 39.2%; Net profit margin was 36.6%
– Expects revenues to be between US$10.2 billion and US$10.3 billion in the first quarter of 2020
– Sees first-quarter gross profit margin in the range of 48.5% to 50.5% and expects operating profit margin between 37.5% and 39.5%
– For fiscal 2020, TSMC expects capital budget between US$15 billion and US$16 billion
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