Acer Announces Q2 2024 Operating Income at NT$1.47 Billion, Up 87.9% Quarter-on-quarter and 40.3% Year-on-year

Rhea-AI Summary

Acer Inc. (TWSE: 2353) reported strong financial results for Q2 2024, with consolidated revenues of NT$67.14 billion, up 15.2% year-on-year. The company's operating income surged to NT$1.47 billion, marking an impressive 87.9% increase quarter-on-quarter and 40.3% year-on-year, with a 2.2% margin. Net income reached NT$1.40 billion with earnings per share of NT$0.47.

For the first half of 2024, Acer's performance was equally robust. Consolidated revenues hit NT$125.97 billion, up 13.8% year-on-year, while gross profits grew by 15.1% to NT$13.37 billion with a 10.6% margin. Operating income for 1H 2024 increased by 75.1% year-on-year to NT$2.25 billion, and net income rose 36.6% to NT$2.61 billion, resulting in earnings per share of NT$0.87.

Notably, businesses outside of computers and displays contributed significantly, accounting for 28.1% of total revenues and 35.2% of operating income in Q2 2024.

Positive

• Consolidated revenues increased by 15.2% year-on-year to NT$67.14 billion in Q2 2024
• Operating income grew by 87.9% quarter-on-quarter and 40.3% year-on-year to NT$1.47 billion
• Net income reached NT$1.40 billion with EPS of NT$0.47 in Q2 2024
• 1H 2024 consolidated revenues up 13.8% year-on-year to NT$125.97 billion
• Gross profits for 1H 2024 increased by 15.1% year-on-year to NT$13.37 billion
• Operating income for 1H 2024 surged 75.1% year-on-year to NT$2.25 billion
• Diversification of revenue streams with 28.1% of total revenues coming from non-computer and display businesses

Negative

• None.

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TAIPEI, Aug. 8, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the second quarter of 2024. Consolidated revenues reached NT$67.14 billion, up 15.2% year-on-year (YoY); operating income was NT$1.47 billion, up 87.9% quarter-on-quarter (QoQ) and 40.3% YoY, with 2.2% margin; net income^[1] was NT$1.40 billion with earnings-per-share NT$0.47.

For 1H 2024, Acer's consolidated revenues reached NT$125.97 billion, up 13.8% YoY; gross profits reached NT$13.37 billion with 15.1% growth YoY and 10.6% margin; operating income was NT$2.25 billion, up 75.1% YoY; and net income^[1] was NT$2.61 billion with 36.6% growth YoY and earnings-per-share of NT$0.87.

In the second quarter, businesses other than computers and displays contributed 28.1% of total revenues, and 35.2% 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.

© 2024 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra.

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SOURCE Acer

FAQ

What was Acer's (ACEYY) revenue growth in Q2 2024?

Acer's consolidated revenues in Q2 2024 grew by 15.2% year-on-year, reaching NT$67.14 billion.

How much did Acer's (ACEYY) operating income increase in Q2 2024?

Acer's operating income in Q2 2024 increased by 87.9% quarter-on-quarter and 40.3% year-on-year, reaching NT$1.47 billion.

What was Acer's (ACEYY) earnings per share (EPS) for Q2 2024?

Acer's earnings per share (EPS) for Q2 2024 was NT$0.47.

How did Acer's (ACEYY) non-computer and display businesses perform in Q2 2024?

In Q2 2024, Acer's businesses other than computers and displays contributed 28.1% of total revenues and 35.2% of operating income.

What was Acer's (ACEYY) net income for the first half of 2024?

Acer's net income for the first half of 2024 was NT$2.61 billion, showing a 36.6% growth year-on-year.