TSMC(US:TSM)2024-07-18 05:41Financial Performance - Net revenue for Q2 2024 reached $20.822 billion, representing a 40.1% increase year-over-year compared to $14.153 billion in Q2 2023[4] - Gross profit for Q2 2024 was $11.072 billion, with a gross margin of 53.2%, compared to 54.1% in Q2 2023[4] - Operating income for Q2 2024 was $8.859 billion, accounting for 42.5% of net revenue, up from 42.0% in Q2 2023[4] - Net income for Q2 2024 was $7.657 billion, a 36.8% margin, compared to $5.634 billion in Q2 2023[4] - Earnings per share (diluted) for Q2 2024 was $0.30, compared to $0.27 in Q2 2023[4] - For the first half of 2024, net revenue totaled $39.695 billion, a 28.0% increase from $31.015 billion in the first half of 2023[6] - Comprehensive income for Q2 2024 was $8.073 billion, compared to $5.869 billion in Q2 2023[4] Assets and Liabilities - Total assets increased to $184,129 million as of June 30, 2024, up 3.4% from $179,656 million in the previous quarter and up 16.2% from $151,230 million year-over-year[1] - Total current liabilities amounted to $32,284 million, a 2.2% increase from the previous quarter and a 29.4% increase year-over-year[1] - The company reported a total of $66,550 million in liabilities, which is a 1.9% increase from the previous quarter and an 11.2% increase year-over-year[1] - The total shareholders' equity reached $117,579 million, reflecting a 4.2% increase from the previous quarter and a 19.2% increase year-over-year[1] - Total current assets increased by NT$138.89 billion, primarily due to a NT$125.98 billion increase in cash and marketable securities[25] - Total assets increased to NT$5,982.36 billion, with total liabilities at NT$2,162.22 billion, resulting in total shareholders' equity of NT$3,820.14 billion[55] Cash Flow and Investments - Cash generated by operating activities was USD 25,519 million for the six months ended June 30, 2024[8] - Net cash used in investing activities was USD 11,205 million for the six months ended June 30, 2024[8] - Net cash used in financing activities was USD 5,077 million for the six months ended June 30, 2024[8] - Cash generated from operating activities totaled NT$377.67 billion in Q2 2024, including NT$306.31 billion from income before tax[34] - Cash from operating activities for Q2 2024 was NT$377.67 billion, with free cash flow of NT$171.99 billion[57] - Capital expenditures totaled US$6.36 billion in 2Q24, reflecting ongoing investments in technology and capacity[33] Operational Metrics - Advanced technologies (7nm and below) accounted for 67% of total wafer revenue in Q2 2024[15] - Revenue from High Performance Computing (HPC) and Smartphone platforms represented 52% and 33% of net revenue respectively in Q2 2024[15] - Shipments of 3-nanometer technology accounted for 15% of total wafer revenue, while advanced technologies (7-nanometer and above) represented 67% of total wafer revenue[62] - Days of receivable decreased to 28 days in 2Q24, while days of inventory decreased to 83 days[27] Shareholder Information - The company declared a cash dividend of NT$4.00 for Q1 2024, with distribution scheduled for October 9, 2024[59] - The weighted average outstanding shares (diluted) for Q2 2024 were approximately 25.931 million[4] - Diluted earnings per share (EPS) for Q2 2024 was NT$9.56 (US$1.48 per ADR unit), marking a significant increase compared to the same period last year[61] Research and Development - Research and development expenses for the first half of 2024 were $2.952 billion, representing 7.4% of net revenue[6] Company Events - The company celebrated its 30th North America Technology Symposium, highlighting innovations in AI and silicon leadership[35]