Acer Announces Q1 2024 Net Income at NT$1.20 Billion, Up 133.4% Year-on-year

Rhea-AI Summary

Acer Inc. reported strong financial results for Q1 2024 with a net income of NT$1.20 billion, up 133.4% YoY. Gross profit, operating income, and net income margins all showed growth. Consolidated revenues reached NT$58.83 billion, up 12.2% YoY. Non-computer and display businesses contributed significantly to total revenues and operating income.

Positive

• Net income surged by 133.4% YoY to NT$1.20 billion.
• Gross profits rose by 15.5% YoY to NT$6.20 billion with a 10.5% margin.
• Operating income showed significant growth of 227.4% YoY to NT$781 million with a 1.3% margin.
• Consolidated revenues increased by 12.2% YoY to NT$58.83 billion.
• Non-computer and display businesses contributed 29.4% of total revenues and 57.6% of operating income.

Negative

• None.

Margins for gross profit, operating income, and net income all grow year-on-year

TAIPEI, May 9, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the first quarter of 2024. Consolidated revenues reached NT$58.83 billion, up 12.2% year-on-year (YoY); gross profits reached NT$6.20 billion with 15.5% growth YoY and 10.5% margin; operating income was NT$781 million, up 227.4% YoY, with 1.3% margin; and net income^[1] was NT$1.20 billion with 133.4% growth YoY and earnings-per-share of NT$0.40.

In the first quarter, businesses other than computers and displays contributed 29.4% of total revenues, and 57.6% of operating income.

[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