=Taiwan Semi (TSM) reported earnings on Thur 19 July 2018 (b/o)

Taiwan Semi beats by $0.04, beats on revs; guides Q3 revs below consensus 

• Reports Q2 (Jun) earnings of $2.79 per share, $0.04 better than the Capital IQ Consensus of $2.75; revenues rose 9.1% year/year to $233.28 bln vs the $230.77 bln Capital IQ Consensus.
  • Gross margin for the quarter was 47.8%, operating margin was 36.2%, and net profit margin was 31.0%.
• Co issues downside guidance for Q3, sees Q3 revs of $8.45-8.55 bln vs. $8.56 bln Capital IQ Consensus Estimate.
  • Gross profit margin is expected to be between 48% and 50%;
  • Operating profit margin is expected to be between 36.5% and 38.5%.