Key Highlights
- March revenue at TSMC reached T$415.19 billion ($13.07 billion), representing a 45.2% increase compared to the same month last year
- First-quarter revenue totaled T$1.134 trillion, exceeding Bloomberg consensus projections of T$1.12 trillion
- Year-over-year quarterly revenue growth stood at 35%, compared to T$839.25 billion in the prior-year period
- Analyst consensus for Q1 earnings per share stands at $3.27, reflecting more than 50% growth year-over-year
- Complete first-quarter earnings release scheduled for Thursday, April 16; analyst price targets suggest average upside potential of 16%
Taiwan Semiconductor Manufacturing delivered robust March performance, with monthly revenue advancing 45.2% year-over-year to reach T$415.19 billion ($13.07 billion). The monthly figure also showed a 30.7% increase compared to February results.
This performance brought first-quarter cumulative revenue to T$1.134 trillion ($35.71 billion), slightly surpassing the Bloomberg consensus forecast of T$1.12 trillion.
During the comparable quarter last year, TSMC generated T$839.25 billion in revenue. The transformation over the past twelve months has been substantial.
Taiwan Semiconductor Manufacturing Company Limited, TSM
Artificial intelligence applications have served as the primary catalyst for this expansion. TSMC manufactures cutting-edge semiconductors for Nvidia and Apple, while the accelerating construction of AI data infrastructure has sustained elevated order volumes.
The semiconductor manufacturer’s shares have appreciated more than 140% during the past year, demonstrating investor conviction in the AI-fueled growth narrative.
April 16 Earnings Preview
Complete first-quarter financial results arrive on Thursday, April 16. Wall Street analysts project earnings per share of $3.27, representing an increase exceeding 50% from the year-ago quarter.
Gross margin expectations range between 63% and 65% for the first quarter. Looking ahead to the complete 2026 fiscal year, TSMC anticipates revenue expansion of approximately 30% measured in U.S. dollar terms.
Capital investment plans remain substantial. The company has detailed spending plans of $52 to $56 billion for 2026, with 70% to 80% allocated toward advanced technology nodes.
Wall Street Perspective
Analyst sentiment leans decidedly positive ahead of the earnings announcement. The consensus price target indicates approximately 16% appreciation potential from present levels, while the most optimistic projections point toward gains approaching 30%.
When earnings arrive, attention will probably pivot from revenue figures to margin performance and profitability metrics. Revenue already exceeded expectations — market participants now seek confirmation of how that translates to bottom-line results.
TSMC’s most recently reported quarterly performance already demonstrated exceptional earnings expansion, and first-quarter figures are anticipated to maintain that trajectory.
Currently, the March revenue disclosure provides market participants with a preliminary indication of quarterly performance. The topline figure surpassed analyst estimates, and the year-over-year comparison presents a compelling picture.
The comprehensive financial report arrives April 16.
