Acer Announces Operating Income for Q3'24 at NT$1.60 Billion and for Year-to-September at NT$3.85 Billion with 36.1% Growth

Rhea-AI Summary

Acer reported strong Q3 2024 financial results with consolidated revenues of NT$72.69 billion, showing 8.3% QoQ and 7.8% YoY growth. The company achieved NT$1.60 billion in operating income, up 9.2% QoQ and 3.7% YoY. For the year-to-September period, revenues reached NT$198.66 billion with 11.5% YoY growth, while operating income grew 36.1% YoY to NT$3.85 billion. Non-computer and display businesses contributed 26.9% of total revenues, while public subsidiaries accounted for 26.4% of operating income. The company's Board approved reorganizing the Risk Management Committee into the 'Risk Management and Sustainable Development Committee'.

Positive

• Revenue growth of 8.3% QoQ and 7.8% YoY in Q3 2024
• Operating income increased 9.2% QoQ and 3.7% YoY
• Year-to-September operating income grew 36.1% YoY
• Gross profit margin maintained at 10.6%
• Diversification success with 26.9% revenue from non-computer businesses

Negative

• Operating margin remains relatively low at 2.2% for Q3
• Operating margin for year-to-September period at just 1.9%

TAIPEI, Nov. 7, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2024: consolidated revenues were NT$72.69 billion with 8.3% growth quarter-on-quarter (QoQ) and 7.8% growth year-on-year (YoY); gross profits reached NT$7.68 billion, up 6.9% QoQ and 5.2% YoY, with 10.6% margin; operating income was NT$1.60 billion, up 9.2% QoQ and 3.7% YoY, with 2.2% margin; net income^[1] was NT$1.50 billion, up 7.2% QoQ; and earnings per share was NT$0.50. Businesses other than computers and displays contributed 26.9% of total group revenues, while public subsidiaries contributed 26.4% of operating income.

For year-to-September, consolidated revenues were NT$198.66 billion with 11.5% growth YoY; gross profits reached NT$21.05 billion, up 11.3% YoY with 10.6% margin; operating income was NT$3.85 billion, up 36.1% YoY with 1.9% margin; net income^[1] was NT$4.11 billion, up 5.0% YoY; and earnings per share was NT$1.37. Businesses other than computers and displays contributed 28.0% of total group revenues, while public subsidiaries contributed 36.5% of operating income.

To strengthen the company's risk management, realize sustainable development goals, and enhance governance, Acer's Board of Directors approved the reorganization of the former Risk Management Committee to become the "Risk Management and Sustainable Development Committee," with expanded tasks of overseeing cyber security and corporate sustainability.

[1] Net income is reported as profit-after-tax in Acer's financial statements

About Acer

Founded in 1976, Acer is one of the world's top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer's 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

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SOURCE Acer

FAQ

What was Acer's (ACEYY) Q3 2024 revenue?

Acer's Q3 2024 consolidated revenue was NT$72.69 billion, showing 8.3% quarter-on-quarter and 7.8% year-on-year growth.

How much operating income did Acer (ACEYY) report for Q3 2024?

Acer reported operating income of NT$1.60 billion for Q3 2024, up 9.2% quarter-on-quarter and 3.7% year-on-year.

What percentage of Acer's (ACEYY) revenue came from non-computer businesses in Q3 2024?

Businesses other than computers and displays contributed 26.9% of Acer's total group revenues in Q3 2024.

What was Acer's (ACEYY) earnings per share for year-to-September 2024?

Acer's earnings per share for year-to-September 2024 was NT$1.37.