TSMC's Monthly Sales: How Taiwan's Monthly Revenue Reports Work

Most large companies tell investors about their sales four times a year. Taiwan Semiconductor Manufacturing Co. (TSMC) does it every month, because Taiwan’s securities law requires it. About ten days after each month ends, TSMC publishes its consolidated net revenue for that month, with the change from the month before, the change from a year earlier and the year-to-date total. It is one number, unaudited, with no profit figure attached. Three of those reports add up to the quarter’s revenue, which arrives a week or so before TSMC’s full quarterly results.

Where does the monthly rule come from?

Article 36 of Taiwan’s Securities and Exchange Act lists what a company that has issued securities under the Act must publish and file with the Financial Supervisory Commission, the regulator. Annual reports are due within three months of the fiscal year’s end, and quarterly reports within 45 days of the end of the first three quarters. The third item reads: “Within the first ten days of each calendar month, publicly announce and file with the Competent Authority the operating status for the preceding month.”

In practice, that monthly filing is a revenue report, posted on the Market Observation Post System (MOPS), the disclosure site run by the Taiwan Stock Exchange (TWSE). The rule is not specific to TSMC or to chipmakers. The TWSE’s open-data summary of monthly revenue for September 2026 lists 1,088 listed companies; 96 of them are classified in the semiconductor industry. They include United Microelectronics Corporation (UMC, 2303) and Nanya Technology (2408).

When does TSMC’s report come out?

On or before the 10th of each month. TSMC lists the dates in advance on its investor-relations financial calendar. The 2026 releases so far:

Revenue for	Released
March 2026	April 10
April 2026	May 8
May 2026	June 10
June 2026	July 13
July 2026	August 10
August 2026	September 10
September 2026	October 8

The June report came out on July 13. TSMC’s calendar says it was postponed because of the July 10 typhoon day off.

The next three are scheduled for November 10 (October revenue), December 10 (November) and January 8, 2027 (December), each at 13:30 Taipei time. Taipei and Singapore share a clock, so that is 13:30 in Singapore too. In New York, after US clocks change on November 1, it is 00:30 on the same date. The calendar notes that dates can change during the year.

Where can you read it?

• TSMC’s press release. TSMC posts each report on its newsroom, pr.tsmc.com, in English, with a small table.
• SEC filings. TSMC also files the release with the US Securities and Exchange Commission on Form 6-K, because its American depositary shares trade on the New York Stock Exchange as TSM. The September report was filed on October 8.
• TSMC’s Monthly Revenue page. The investor-relations site keeps a running table for the year: revenue by month, in millions of NT dollars, with the change from a year earlier.
• MOPS. The official filing, in Chinese, in thousands of NT dollars.
• TWSE OpenAPI. The exchange publishes all listed companies’ monthly revenue as one dataset (t187ap05_L), in Chinese field names, in thousands of NT dollars.

What is in the report?

Here is the September 2026 report, from TSMC’s press release (figures in NT$ millions):

Item	Figure
Net revenue, September 2026	511,857
Net revenue, August 2026	514,806
Change from August	−0.6%
Net revenue, September 2025	330,980
Change from September 2025	+54.6%
January–September 2026	3,898,727
January–September 2025	2,762,964
Year-to-date change	+41.1%

That is the whole table. The figure is consolidated, meaning it includes TSMC’s subsidiaries, and TSMC’s revenue page says the 2026 figures have not been audited.

The MOPS filing adds one thing: a short note explaining large moves. The MOPS form says listed companies must explain the change when monthly or year-to-date revenue moves 50% or more from a year earlier. TSMC’s September note reads “因先進製程產品需求增加所致”, which means the increase came from higher demand for advanced-process products.

Here are the last six months, from TSMC’s Monthly Revenue page. The change from the previous month is computed from the same page’s figures.

Month (2026)	Net revenue (NT$ billion)	vs. previous month	vs. a year earlier
April	410.73	−1.1%	+17.5%
May	416.98	+1.5%	+30.1%
June	442.68	+6.2%	+67.9%
July	467.58	+5.6%	+44.7%
August	514.81	+10.1%	+53.3%
September	511.86	−0.6%	+54.6%

What does it leave out?

A lot. The monthly report has no cost figures, so no gross margin, no operating margin and no net income. It does not split revenue by product, by technology or by customer. It has no US-dollar figure, and no comment from management on the outlook.

Those details come with the quarterly results. TSMC’s third-quarter 2026 release, on October 15, gave revenue of NT$1,494.24 billion (US$46.72 billion), a gross margin of 66.4%, an operating margin of 58.7%, net income of NT$763.06 billion and diluted earnings of NT$29.43 per share (US$4.60 per ADR unit). It also gave guidance for the next quarter. TSMC’s financial calendar listed the third-quarter earnings conference for October 15, a week after the September revenue report.

How do the monthly numbers relate to the quarter?

They add up to it. Using TSMC’s Monthly Revenue page:

• July + August + September: 467,580 + 514,806 + 511,857 = NT$1,494,243 million, the NT$1,494.24 billion TSMC reported for the third quarter.
• April + May + June: 410,726 + 416,975 + 442,680 = NT$1,270,381 million, matching the NT$1,270.38 billion reported for the second quarter.

So the September report, on October 8, already gave the quarter’s revenue in NT dollars. The October 15 release added the US-dollar figure, margins and profit.

How can you compare the monthly figures with TSMC’s guidance?

TSMC gives its revenue guidance in US dollars, with an exchange-rate assumption. The monthly reports are in NT dollars. To compare them, convert the guidance at TSMC’s own assumed rate. This is only a rough check, because the actual exchange rate during the quarter differs from the assumption.

Third quarter 2026. In its July 16 release, TSMC guided third-quarter revenue at US$44.6 billion to US$45.8 billion, assuming 32 NT dollars per US dollar.

• At 32 NT dollars, that range is NT$1,427.2 billion to NT$1,465.6 billion.
• The three monthly reports summed to NT$1,494.24 billion, above the top of that converted range.
• In US dollars, TSMC reported US$46.72 billion, also above the top of its guidance range, by US$0.92 billion. Dividing NT$1,494.24 billion by US$46.72 billion gives about 31.98 NT dollars per US dollar for the quarter.

Fourth quarter 2026. On October 15, TSMC guided fourth-quarter revenue at US$52.3 billion to US$54.3 billion, assuming 31.8 NT dollars per US dollar. At that rate, the range is NT$1,663.1 billion to NT$1,726.7 billion. The October, November and December reports, due November 10, December 10 and January 8, will fill in the NT-dollar side of that comparison one month at a time. The same release guided a gross margin of 65% to 67% and an operating margin of 56.5% to 58.5%; the monthly reports cannot show either.

Where else does this matter?

The report covers the company, not one listing. TSMC’s shares trade in Taipei as 2330 and its ADRs in New York as TSM, and both reflect the same monthly figures. Our explainer on TSM and 2330 covers how the two listings compare. Other Taiwan-listed chip companies, from UMC to Nanya Technology, publish their monthly revenue under the same rule. To see how TSMC and its Taiwan peers moved on a given day, open the Taiwan map.