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Sep 30
TSMC Q3 2025 Earnings Report
TSMC reported strong Q3 2025 results driven by continued demand for advanced process technologies.
Key Takeaways
TSMC posted solid Q3 2025 results with $33.1 billion in revenue and $15.1 billion in net income. EPS came in at $2.92 per ADR, with robust gross and operating margins. Demand for 3nm and 5nm nodes contributed significantly to the quarter's strength.
Revenue grew to $33.1 billion, up 10.1% QoQ and 40.8% YoY.
Net income reached $15.1 billion, with EPS at $2.92 per ADR.
Gross margin improved to 59.5%, reflecting strong demand for advanced nodes.
Advanced nodes (7nm and below) accounted for 74% of total wafer revenue.
TSMC
TSMC
TSMC Revenue by Segment
Revenue by Segment
3nm Revenue
CapyFin.com5nm Revenue
CapyFin.com7nm Revenue
CapyFin.com Forward Guidance
TSMC expects Q4 2025 revenue between $32.2B and $33.4B, with strong margins driven by continued demand for leading-edge technologies.
Positive Outlook
- Revenue guidance implies sustained high demand for advanced nodes.
- Gross margin expected to remain strong between 59% and 61%.
- Operating margin guided between 49% and 51%.
- Exchange rate assumptions stable at 30.6 NT$/USD.
- Strong backlog in HPC and AI segments supports Q4 outlook.
Challenges Ahead
- Non-operating income projected to be lower than Q3.
- Capex remains elevated, pressuring free cash flow.
- Macroeconomic uncertainty may impact customer demand.
- Geopolitical tensions remain a risk factor.
- Slight sequential revenue deceleration expected from Q3 peak.
Revenue & Expenses
Visualization of income flow from segment revenue to net income