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Mar 31, 2025
TSMC Q1 2025 Earnings Report
TSMC reported solid Q1 2025 results with strong profitability and robust cash generation despite a slight revenue decline.
Key Takeaways
TSMC delivered a strong net income of $10.97 billion in Q1 2025, supported by $25.53 billion in revenue and significant operating income. EPS came in at $2.12 per ADR. Despite a slight quarter-over-quarter revenue decline, the company demonstrated exceptional cost control and generated $19.03 billion in operating cash flow.
Net income reached $10.97 billion, up 60.2% year-over-year.
Revenue was $25.53 billion, down 3.4% quarter-over-quarter but up 41.6% year-over-year.
Operating income totaled $12.38 billion, reflecting strong profitability.
Generated $19.03 billion in operating cash flow with $8.13 billion increase in cash and equivalents.
Forward Guidance
TSMC maintained a cautiously optimistic outlook amid mixed signals for demand recovery and capital spending discipline.
Positive Outlook
- Strong cash position with over $72B in cash and equivalents.
- Substantial growth in net income year-over-year.
- Continued cost efficiency with improved margins.
- Sustained investments in capacity expansion.
- Robust operating cash generation supports dividends and debt management.
Challenges Ahead
- Quarter-over-quarter revenue declined by 3.4%.
- Gross profit fell slightly from previous quarter.
- High capital expenditures continue to pressure free cash flow.
- Fluctuations in working capital impact short-term liquidity.
- Macro uncertainty could affect demand in coming quarters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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