TSM · Taiwan Semiconductor Manufacturing Company Limited

TSMC’s Q1 2026 results reflect substantial operational and financial momentum, with revenue rising 35% year-over-year to NT$1,134.1 billion and net income surging 59% to NT$572.5 billion attributable to shareholders. Gross margin expanded to 66% from 59% in Q1 2025, driven by favorable product mix, high utilization of advanced nodes (including 3nm and 5nm), and disciplined cost management. Operating expenses grew only 10% year-over-year — slower than revenue growth — contributing to operating income growth of 62% to NT$659.0 billion. The company maintained strong liquidity, with cash and equivalents increasing 26% year-over-year to NT$3.036 trillion as of March 31, 2026, while total equity rose 29% to NT$5.891 trillion. Notably, accrued profit sharing bonuses jumped 49% year-over-year, underscoring robust internal performance metrics and alignment with shareholder returns. No forward guidance is disclosed in the filing; however, the scale and pace of earnings growth — particularly in the context of global semiconductor demand for AI accelerators and high-performance computing — signal continued leadership in advanced logic manufacturing. The auditors’ review report confirms fair presentation under ROC regulations and IAS 34, reinforcing reliability of the interim financial statements.