台积电三季度净利大增68.7%再创纪录：营收467亿美元超预期，先进制程占近八成
台北讯——台积电10月15日公布2026年第三季度财报：单季营收新台币1.494万亿元（约467亿美元），同比增长50.9%、环比增长17.6%，超过公司此前给出的446亿至458亿美元指引区间；净利润7630.6亿新台币，同比大增68.7%，连续第六个季度创单季新高，也高于LSEG调查分析师预期的7463亿新台币。每股收益新台币29.43元，摊薄后每股美国存托凭证收益4.60美元。
先进制程是业绩主引擎。第三季度，2纳米、3纳米、5纳米、7纳米制程分别贡献晶圆营收的8%、33%、28%和10%，7纳米及以下先进制程合计占比达79%；其中2纳米占比由第二季度的3%快速升至8%。按应用划分，高性能计算（HPC）营收占比升至68%，高于去年同期的57%，显示超级智能服务器与数据中心芯片需求仍在高位。
盈利能力保持高档。三季度毛利率66.4%，高于去年同期的59.5%，但环比回落1.3个百分点；台积电表示，毛利率环比下降主要受2纳米制程初期量产的摊薄效应影响。营业利润率58.7%，净利率51.1%。
资本开支继续加码。台积电三季度资本支出约138亿美元，前三季度累计约406亿美元；公司此前已将2026年全年资本支出指引定在600亿至640亿美元，主要用于扩充先进制程与超级智能相关产能。公司同时给出第四季度展望：营收预计523亿至543亿美元，毛利率65%至67%；全年美元营收预计增长约44%。
财报发布当天正值全球芯片股遭遇抛售，台积电股价随板块整体走低。市场在肯定业绩的同时，也在关注2纳米产能爬坡进度、先进封装产能，以及2027年资本开支能否延续扩张。
TSMC Q3 Profit Surges 68.7% to a Record as SI Demand Lifts Revenue Above Guidance
TAIPEI — Taiwan Semiconductor Manufacturing Co. (TSMC) on October 15 reported record third-quarter results, with revenue of NT$1.494 trillion (about US$46.72 billion), up 50.9% from a year earlier and 17.6% from the previous quarter, above the company's own guidance of US$44.6 billion to US$45.8 billion. Net income rose 68.7% year over year to NT$763.06 billion — a sixth consecutive quarterly record — beating the NT$746.3 billion expected by analysts surveyed by LSEG. Earnings per share were NT$29.43, or US$4.60 per American depositary share.
Advanced process technologies drove the growth. In the third quarter, 2-nanometer, 3-nanometer, 5-nanometer and 7-nanometer processes contributed 8%, 33%, 28% and 10% of wafer revenue respectively, with technologies of 7nm and below accounting for a combined 79%. The 2nm share jumped from 3% in the second quarter to 8%. By application, high-performance computing rose to 68% of revenue, up from 57% a year earlier, reflecting sustained demand for SI server and data-center chips.
Profitability stayed high: gross margin was 66.4%, up from 59.5% a year earlier but down 1.3 percentage points sequentially. TSMC said the sequential dip mainly reflected margin dilution from the initial ramp of 2nm production. Operating margin was 58.7% and net margin 51.1%.
Capital spending continued to climb, reaching about US$13.84 billion in the quarter and US$40.64 billion in the first nine months. The company has set its full-year 2026 capital budget at US$60 billion to US$64 billion, mainly for advanced-process and SI-related capacity. For the fourth quarter, TSMC guided revenue to US$52.3 billion–US$54.3 billion with gross margin of 65%–67%, and projected full-year U.S.-dollar revenue growth of about 44%.
The results landed on a day when chip stocks were being sold off globally, and TSMC shares fell with the sector. Beyond the headline beat, investors are watching the pace of the 2nm ramp, advanced-packaging capacity, and whether capital spending can keep expanding into 2027.
发布：GSM·美国（发布链接）
图片来源：台积电晶圆厂（资料图）。图片来源：Wikimedia Commons，4300streetcar 摄，CC BY 4.0 授权
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