-=Taiwan Semi (TSM) reported earnings on Thur 18 Jan 2017 (b/o)

Taiwan Semi beats by NT$0.08, reports revs in-line; guides Q1 revs below consensus

• Reports Q4 (Dec) earnings of NT$3.83 per share, $0.08 better than the Capital IQ Consensus of $3.75; revenues rose 5.8% year/year to NT$277.57 bln vs the NT$277.72 bln Capital IQ Consensus.
  • Gross margin for the quarter was 50.0%, operating margin was 39.2%, and net profit margin was 35.8%.
  • In the fourth quarter, shipments of 10-nanometer accounted for 25% of total wafer revenue; 16/20-nanometer process technology accounted for 20% of total wafer revenue; and advanced technologies, defined as 28-nanometer and more advanced technologies, accounted for 63% of total wafer revenue.
• Co issues downside guidance for Q1, sees Q1 revs of $8.4-8.5 bln vs. $8.83 bln Capital IQ Consensus Estimate.