Acer Announces Q3'24 Consolidated Revenues at NT$72.58 Billion, Highest Quarter Post-Pandemic

Rhea-AI Summary

Acer Inc. (TWSE: 2353) reported its Q3'24 consolidated revenues at NT$72.58 billion, marking the highest quarter post-pandemic with 7.6% year-on-year (YoY) and 8.1% quarter-on-quarter growth. September revenues reached NT$26.31 billion, showing a 15.3% month-on-month increase. Year-to-September consolidated revenues totaled NT$198.59 billion, up 11.5% YoY.

Acer's strategy to diversify its business is paying off, with revenues from non-PC and display businesses contributing 26.9% of Q3 total revenues, growing 20.0% YoY. Notable performances include Altos Computing Inc. (AI servers and workstations) with 24.8% YoY growth in Q3, Acerpure Inc. with 91.1% YoY growth in Q3, and Acer ITS Inc. with 59.7% YoY growth in Q3.

The company also released its 2023 Sustainability Report, highlighting ESG achievements and progress towards 100% renewable electricity by 2035 and net-zero emissions by 2050.

Positive

• Q3'24 consolidated revenues reached NT$72.58 billion, the highest quarter post-pandemic
• 7.6% year-on-year and 8.1% quarter-on-quarter revenue growth in Q3'24
• Year-to-September consolidated revenues grew 11.5% YoY to NT$198.59 billion
• Non-PC and display businesses contributed 26.9% of Q3 total revenues, growing 20.0% YoY
• Altos Computing Inc. revenues grew 24.8% YoY in Q3
• Acerpure Inc. revenues grew 91.1% YoY in Q3
• Acer ITS Inc. revenues grew 59.7% YoY in Q3

Negative

• None.

TAIPEI, Oct. 9, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its consolidated revenues for September at NT$26.31 billion with 15.3% month-on-month growth. Third quarter consolidated revenues reached NT$72.58 billion with 7.6% year-on-year (YoY) and 8.1% quarter-on-quarter growth. Consolidated revenues for year-to-September reached NT$198.59 billion with 11.5% YoY growth, while revenues from the personal computers ^[1] and display business grew 11.3% YoY year-to-September.

Acer's strategy to expand multiple business engines continued to gain momentum. Total revenues from businesses other than computers and displays contributed 26.9% of the group's total revenues in Q3 with 20.0% YoY growth, and 28.0% year-to-September with 15.7% YoY growth. Acer's public subsidiaries have announced their September revenues; some highlights for businesses under incubation include:

• Altos Computing Inc., specializing in AI server and workstations, its revenues grew 24.8% YoY in Q3, and 75.8% YoY year-to-September
• Acerpure Inc. revenues grew 91.1% YoY in Q3, and 47.4% YoY year-to-September
• Acer ITS Inc. revenues grew 59.7% YoY in Q3, and 34.0% YoY year-to-September

Acer has announced its 2023 Sustainability Report, which highlights its key achievements in environmental, social and governance (ESG), and the progress to source 100% renewable electricity by 2035 and reach net zero emissions by 2050.

[1] Personal computers business includes desktop and notebooks

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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FAQ

What were Acer's Q3 2024 consolidated revenues?

Acer's Q3 2024 consolidated revenues were NT$72.58 billion, representing a 7.6% year-on-year and 8.1% quarter-on-quarter growth. This was the highest quarter post-pandemic for Acer.

How much did Acer's (ACEYY) non-PC and display businesses grow in Q3 2024?

Acer's non-PC and display businesses contributed 26.9% of the group's total revenues in Q3 2024, showing a 20.0% year-on-year growth.

What was Acer's (ACEYY) year-to-September 2024 revenue growth?

Acer's year-to-September 2024 consolidated revenues reached NT$198.59 billion, representing an 11.5% year-on-year growth.

Which Acer subsidiary showed the highest growth in Q3 2024?

Among the mentioned subsidiaries, Acerpure Inc. showed the highest growth in Q3 2024 with a 91.1% year-on-year increase in revenues.