1934 Act Registration No. 1-14700
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________
FORM 6-K
_____________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2024
(Commission File Number: 001-14700)
_____________________________
Taiwan Semiconductor Manufacturing Company Ltd.
(Translation of Registrant’s Name Into English)
_____________________________
No. 8, Li-Hsin Rd. 6,
Hsinchu Science Park,
Taiwan, R.O.C.
(Address of Principal Executive Offices)
_____________________________
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F  x            Form 40-F  o
Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1):o
Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7):o


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Taiwan Semiconductor Manufacturing Company Ltd.
Date:   October 17, 2024By   /s/ Wendell Huang
  Wendell Huang
   Senior Vice President & Chief Financial Officer



Exhibits

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TSMC Reports Third Quarter EPS of NT$12.54

HSINCHU, Taiwan, R.O.C., Oct. 17, 2024 -- TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$759.69 billion, net income of NT$325.26 billion, and diluted earnings per share of NT$12.54 (US$1.94 per ADR unit) for the third quarter ended September 30, 2024.

Year-over-year, third quarter revenue increased 39.0% while net income and diluted EPS both increased 54.2%. Compared to second quarter 2024, third quarter results represented a 12.8% increase in revenue and a 31.2% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $23.50 billion, which increased 36.0% year-over-year and increased 12.9% from the previous quarter.

Gross margin for the quarter was 57.8%, operating margin was 47.5%, and net profit margin was 42.8%.

In the third quarter, shipments of 3-nanometer accounted for 20% of total wafer revenue; 5-nanometer accounted for 32%; 7-nanometer accounted for 17%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 69% of total wafer revenue.

“Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies,” said Wendell Huang, Senior VP and Chief Financial Officer of TSMC. “Moving into fourth quarter 2024, we expect our business to continue to be supported by strong demand for our leading-edge process technologies.”

Based on the Company’s current business outlook, management expects the overall performance for fourth quarter 2024 to be as follows:

•Revenue is expected to be between US$26.1 billion and US$26.9 billion;
And, based on the exchange rate assumption of 1 US dollar to 32.0 NT dollars,
•Gross profit margin is expected to be between 57.0% and 59.0%;
•Operating profit margin is expected to be between 46.5% and 48.5%.



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TSMC’s 2024 third quarter consolidated results:
(Unit: NT$ million, except for EPS)
3Q24
Amounta
3Q23
Amount
YoY
Inc. (Dec.) %
2Q24
Amount
QoQ
Inc. (Dec.) %
Net sales
759,692
546,73339.0
673,510
12.8
Gross profit
439,345296,64348.1358,12522.7
Income from operations
360,766228,06558.2286,55625.9
Income before tax
384,187241,94058.8306,31125.4
Net income
325,258211,00054.2247,84531.2
EPS (NT$)
12.54b
8.14c
54.2
9.56d
31.2
a: 3Q2024 figures have not been approved by Board of Directors
b: Based on 25,928 million weighted average outstanding shares
c: Based on 25,929 million weighted average outstanding shares
d: Based on 25,931 million weighted average outstanding shares



About TSMC
TSMC pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s leading dedicated semiconductor foundry ever since. The Company supports a thriving ecosystem of global customers and partners with the industry’s leading process technologies and portfolio of design enablement solutions to unleash innovation for the global semiconductor industry. With global operations spanning Asia, Europe, and North America, TSMC serves as a committed corporate citizen around the world.

TSMC deployed 288 distinct process technologies, and manufactured 11,895 products for 528 customers in 2023 by providing the broadest range of advanced, specialty and advanced packaging technology services. The Company is headquartered in Hsinchu, Taiwan. For more information please visit https://www.tsmc.com.
# # #

TSMC Spokesperson:
Wendell Huang
Senior Vice President and CFO
Tel: 886-3-505-5901
Media Contacts:
Nina Kao
Head of Public Relations
Tel: 886-3-563-6688 ext.7125036
Mobile: 886-988-239-163
E-Mail:nina_kao@tsmc.com


Ulric Kelly
Public Relations
Tel: 886-3-563-6688 ext. 7126541
Mobile: 886-978-111-503
E-Mail:ukelly@tsmc.com


Unleash Innovation TSMC, Ltd© 02024 TSMC Property Unleash Innovation 2024 Third Quarter Earnings Conference October 17, 2024

 
Unleash Innovation TSMC, Ltd© 12024 TSMC Property Agenda • Welcome Jeff Su, IR Director • 3Q24 Financial Results and 4Q24 Outlook Wendell Huang, CFO • Key Messages Wendell Huang, CFO C.C. Wei, Chairman & CEO • Q&A

 
Unleash Innovation TSMC, Ltd© 22024 TSMC Property Safe Harbor Notice • TSMC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. • Information as to those factors that could cause actual results to vary can be found in TSMC’s 2023 Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) on April 18, 2024 and such other documents as TSMC may file with, or submit to, the SEC from time to time. • Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 
Unleash Innovation TSMC, Ltd© 32024 TSMC Property Selected Items from Statements of Comprehensive Income 3Q24 (In NT$ billions unless otherwise noted) Guidance Net Revenue (US$ billions) 23.50 22.4-23.2 20.82 17.28 +12.9% +36.0% Net Revenue 759.69 673.51 546.73 +12.8% +39.0% Gross Margin 57.8% 53.5%-55.5% 53.2% 54.3% +4.6 ppts +3.5 ppts Operating Expenses (79.08) (70.30) (68.70) +12.5% +15.1% Operating Margin 47.5% 42.5%-44.5% 42.5% 41.7% +5.0 ppts +5.8 ppts Non-Operating Items 23.42 19.75 13.87 +18.6% +68.8% Net Income Attributable to Shareholders of the Parent Company 325.26 247.85 211.00 +31.2% +54.2% Net Profit Margin 42.8% 36.8% 38.6% +6.0 ppts +4.2 ppts EPS (NT Dollar) 12.54 9.56 8.14 +31.2% +54.2% ROE 33.4% 26.7% 25.8% +6.7 ppts +7.6 ppts Shipment (Kpcs, 12"-equiv. Wafer) 3,338 3,125 2,902 +6.8% +15.0% Average Exchange Rate--USD/NTD 32.32 32.50 32.35 31.64 -0.1% +2.1% * Diluted weighted average outstanding shares were 25,928mn units in 3Q24 ** ROE figures are annualized based on average equity attributable to shareholders of the parent company 3Q24 2Q24 3Q23 3Q24 Over 2Q24 3Q24 Over 3Q23 Statements of Comprehensive Income

 
Unleash Innovation TSMC, Ltd© 42024 TSMC Property - 50 100 150 200 250 300 350 400 450 500 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 R e v e n u e ( N T $ B ) 7nm 5nm 3nm 3Q24 Revenue by Technology 7nm and Below Revenue 0.11/0.13um 2% 90nm 1% 0.25um and above 1% 40/45nm 4% 28nm 7%16nm 8% 0.15/0.18um 4% 65nm 4% 7nm 17% 5nm 32% 3nm 20%

 
Unleash Innovation TSMC, Ltd© 52024 TSMC Property 3Q24 Revenue by Platform +11% +16% +35% +6% -19% +8% Growth Rate by Platform (QoQ) Automotive 5% DCE 1% Others 2% IoT 7% Smartphone Automotive OthersHPC IoT DCE HPC 51% Smartphone 34%

 
Unleash Innovation TSMC, Ltd© 62024 TSMC Property Selected Items from Balance Sheets (In NT$ b illions) Amount % Amount % Amount % Cash & Marketable Securities 2,167.60 35.2% 2,048.64 34.3% 1,551.32 28.3% Accounts Receivable 249.97 4.1% 210.21 3.5% 222.83 4.1% Inventories 292.88 4.7% 272.49 4.5% 262.09 4.8% Long-term Investments 127.33 2.1% 140.22 2.4% 116.35 2.1% Net PP&E 3,071.60 49.8% 3,105.86 51.9% 3,132.66 57.1% Total Assets 6,165.66 100.0% 5,982.36 100.0% 5,484.56 100.0% Current Liabilities 1,080.40 17.5% 1,048.92 17.5% 970.04 17.7% Long-term Interest-bearing Debts 936.16 15.2% 974.34 16.3% 937.49 17.1% Total Liabilities 2,143.74 34.8% 2,162.22 36.1% 2,111.74 38.5% Total Shareholders' Equity 4,021.92 65.2% 3,820.14 63.9% 3,372.82 61.5% Key Indices A/R Turnover Days Inventory Turnover Days Current Ratio (x) Asset Productivity (x) * Total outstanding shares were 25,933mn units at 9/30/24 ** Asset productivity = Annualized net revenue / Average net PP&E 2.6 2.5 2.1 1.0 0.9 0.7 87 3Q24 2Q24 3Q23 28 28 35 83 96 Balance Sheets & Key Indices

 
Unleash Innovation TSMC, Ltd© 72024 TSMC Property (In NT$ billions) 3Q24 2Q24 3Q23 Beginning Balance 1,799.13 1,698.20 1,276.72 Cash from operating activities 391.99 377.67 294.65 Capital expenditures (207.08) (205.68) (226.62) Cash dividends (90.76) (90.76) (71.30) Bonds payable (5.25) 11.50 9.80 Investments and others (1.25) 8.20 28.56 Ending Balance 1,886.78 1,799.13 1,311.81 Free Cash Flow 184.91 171.99 68.03 Cash Flows * Free cash flow = Cash from operating activities – Capital expenditures *

 
Unleash Innovation TSMC, Ltd© 82024 TSMC Property 4Q24 Guidance ◼ Revenue to be between US$26.1 billion and US$26.9 billion Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 32 NT dollars, management expects: ◼ Gross profit margin to be between 57% and 59% ◼ Operating profit margin to be between 46.5% and 48.5%

 
Unleash Innovation TSMC, Ltd© 92024 TSMC Property • Please visit TSMC's website (https://www.tsmc.com) and Market Observation Post System (https://mops.twse.com.tw) for details and other announcements • Amkor and TSMC to Expand Partnership and Collaborate on Advanced Packaging in Arizona (2024/10/04) • European Semiconductor Manufacturing Company Breaks Ground on Dresden Fab (2024/08/20) • TSMC Board of Directors Approved NT$4.00 Cash Dividend for the Second Quarter of 2024 and Set December 12 as the Ex-Dividend Date, December 18 as the Record Date and January 9, 2025 as the Distribution Date (2024/08/13) Recap of Recent Major Events

 
Unleash Innovation TSMC, Ltd© 102024 TSMC Property https://www.tsmc.com invest@tsmc.com

 
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