TSMC's 1H19 net profit dropped by more than 20% YoY to NTD128.16bn

TSMC (2330-TW) held an investors conference and announced its 2Q19 earnings report today on July 18th. Its 2Q19 net profit was NTD66.77bn (+8.7% QoQ, -7.6% YoY) with EPS of NTD2.57. Moreover, its 1H19 net profit was NTD128.16bn (-20.9% YoY) with EPS of NTD4.94.

TSMC's 2Q19 revenue was US$7.75bn (+9.2% QoQ, -1.4% YoY), topped expectations of US$7.55-7.65bn.  Its 2Q19 revenue was NTD241bn (+10.2% QoQ, +3.3% YoY). Its 2Q19 GM was 43% (+1.7% QoQ, -4.8% YoY), in line with the expectation of 43-45%. Its 2Q19 operating profit margin was 31.7% (+2.3% QoQ, -4.5% YoY), in line with the expectation of 31-33%. TSMC's 2Q19 net profit was NTD66.77bn (+8.7% QoQ, -7.6% YoY) with EPS of NTD2.57.