[News] TSMC’s June Revenue Hits Record NT$442.7 Billion, Q2 Sales Reach Guidance High End: Earnings Call Preview
Ahead of TSMC’s July 16 earnings call, the foundry giant today posted record June sales, with revenue rising 6.2% MoM and 67.9% YoY to reach NT$442.7 billion, according to its press release. The strong June performance lifted TSMC’s Q2 revenue to approximately NT$1.27 trillion, falling on the upper end its original guidance range of US$39 billion–$40.2 billion (roughly equivalent to NT$1.24 trillion–NT$1.27 trillion) and marking a new quarterly record.
TSMC’s cumulative revenue for January through June 2026 reached NT$2,404,484 million, up 35.6% year-on-year from NT$1,773,046 million in the same period of 2025, the company said.
Upside Ahead for 2026 Revenue and Q2 Gross Margin
Against the backdrop of stronger-than-expected June sales, analysts cited by Commercial Times expect TSMC to also outperform its 2026 full-year revenue outlook and Q2 gross margin guidance. The company previously guided for full-year U.S. dollar revenue growth of above 30%, but Morgan Stanley now expects the company to raise the outlook toward 40% YoY, while UBS has lifted its forecast to 37%, according to the report.
For profitability, analysts also see upside to TSMC’s Q2 gross margin guidance of 65.5%–67.5%, with some brokerages cited by Commercial Times forecasting margins approaching 70%, including estimates of 69% and 69.5%.
Looking further ahead, Liberty Times, citing analysts, expects TSMC’s margin momentum to remain strong through 2027, with gross margin projected to stay above 66% this year and exceed 68% next year.
Aggressive Capex Push Ahead
Meanwhile, TSMC is expected to step up its investment pace, with analysts seeing further upside beyond the company’s 2026 capex guidance. While TSMC expects 2026 capital spending to land at the high end of its US$52 billion–$56 billion range, analysts cited by Commercial Times expect faster 2nm and 3nm expansion to push capex higher, with forecasts reaching US$58 billion and even US$60 billion from more bullish estimates.
The aggressive spending plan is expected to fuel TSMC’s advanced-node expansion. Economic Daily News, citing analysts, expects 3nm capacity to reach 170,000 wafers per month this year and surpass 200,000 by 2028. Combined A14, 2nm/A16, and 3nm capacity could reach 350,000–400,000 wafers per month, the report adds.
The investment push is also expected to extend into advanced packaging. Commercial Times, citing analysts, forecasts TSMC’s CoWoS capacity to reach 2 million units by 2027, significantly above the previous estimate of 1.35 million. Notably, the Economic Daily News highlights that TSMC’s CoPoS is expected to enter mass production in 2029–2030, with initial capacity of 40,000–50,000 wafers per month.
Read more
(Photo credit: TSMC)
