TSMC today announced consolidated revenue of NT $989.92 billion, net income of NT $452.30 billion, and diluted earnings per share of NT $17.44 (US $2.92 per ADR unit) for the third quarter ended September 30, 2025.
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Year-over-year, third quarter revenue increased 30.3%, while net income and diluted EPS increased 39.1% and 39.0% respectively. Compared to second quarter 2025, third quarter results represented a 6.0% increase in revenue and a 13.6% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.
In U.S. dollars, third quarter revenue was $33.10 billion, which increased 40.8% year-over-year and increased 10.1% from the previous quarter.
Gross margin for the quarter was 59.5%, operating margin was 50.6%, and net profit margin was 45.7%.
“With the strong collaboration and support from our leading U.S. customers and the U.S. federal, state and city governments, we continue to speed up our capacity expansion in Arizona,” said TSMC Chair and CEO C.C. Wei. “We are making tangible progress and executing well to our plan. In addition, we are preparing to upgrade our technologies faster to N2 and more advanced process technologies in Arizona, given the strong AI-related demand from our customers.”
Wei said TSMC is close to securing a second large piece of land nearby, to support the company’s current expansion plans and provide more flexibility in response to the very strong multi-year AI-related demand.
“Our plan will enable TSMC to scale up to an independent GIGAFAB cluster in Arizona, to support the needs of our leading-edge customers in smartphone, AI and HPC applications,” he said.
In the third quarter, shipments of 3-nanometer accounted for 23% of total wafer revenue; 5- nanometer accounted for 37%; 7-nanometer accounted for 14%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 74% of total wafer revenue.
“Our business in the third quarter was supported by strong demand for our leading-edge process technologies,” said Wendell Huang, Senior VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2025, we expect our business to be supported by continued strong demand for our leading-edge process technologies.”
Based on the company’s current business outlook, management expects the overall performance for fourth quarter 2025 to be as follows:
- Revenue is expected to be between US$32.2 billion and US$33.4 billion; And, based on the exchange rate assumption of 1 US dollar to 30.6 NT dollars,
- Gross profit margin is expected to be between 59% and 61%;
- Operating profit margin is expected to be between 49% and 51%.
TSMC’s 2025 third quarter consolidated results:
(Unit: NT$ million, except for EPS)
| 3Q 25 Amounta | 3Q 24 Amount | YoY Inc. (Dec.) % | 2Q25 Amount | QoQ Inc. (Dec.) % | |
| Net sales | 989,918 | 759,692 | 30.3 | 933,792 | 6.0 |
| Gross profit | 588,543 | 439,345 | 34.0 | 547,369 | 7.5 |
| Income from operations | 500,685 | 360,766 | 38.8 | 463,423 | 8.0 |
| Income before tax | 525,369 | 384,187 | 36.7 | 493,036 | 6.6 |
| Net income | 452,302 | 325,258 | 39.1 | 398,273 | 13.6 |
| EPS (NT$) | 17.44 b | 12.54c | 39.0 | 15.36 d | 13.6 |
a: 3Q2025 figures have not been approved by Board of Directors
b: Based on 25,930 million weighted average outstanding shares
c: Based on 25,928 million weighted average outstanding shares
d: Based on 25,929 million weighted average outstanding shares
