Acer Announces Q3 2023 Net Income at NT$2.01 Billion, up 44.2% Quarter-on-quarter

Rhea-AI Summary

Acer Inc. announced its financial results for Q3 2023, with consolidated revenues of NT$67.44 billion, a 15.8% QoQ growth and 3.9% YoY growth. Gross profits reached NT$7.29 billion with a 10.8% margin, higher than the previous quarter and the same period last year. Operating income was NT$1.55 billion, up 47.8% QoQ and 86.6% YoY, with a 2.3% margin. Net income was NT$2.01 billion, up 44.2% QoQ and 7.0% YoY. Businesses other than computers and displays contributed 24.2% of total revenues and 30.0% of operating income in Q3. Acer Group's revenue and profit have reached a new high after the pandemic.

Positive

• Consolidated revenues grew by 15.8% QoQ and 3.9% YoY, reaching NT$67.44 billion.
• Gross profits had a 10.8% margin, higher than the previous quarter and the same period last year.
• Operating income increased by 47.8% QoQ and 86.6% YoY, with a 2.3% margin.
• Net income rose by 44.2% QoQ and 7.0% YoY, reaching NT$2.01 billion.
• Businesses other than computers and displays contributed 24.2% of total revenues and 30.0% of operating income in Q3.
• Acer Group's revenue and profit have reached a new high after the pandemic.

Negative

• None.

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

TAIPEI, Nov. 2, 2023 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2023: consolidated revenues were NT$67.44 billion with 15.8% growth quarter-on-quarter (QoQ) and 3.9% growth year-on-year (YoY); gross profits reached NT$7.29 billion with 10.8% margin, higher than both the previous quarter and the same period last year; operating income was NT$1.55 billion, up 47.8% QoQ and 86.6% YoY, with 2.3% margin; net income^[1] was NT$2.01 billion, up 44.2% QoQ and 7.0% YoY; and earnings per share was NT$0.67.

In the third quarter, businesses other than computers and displays contributed 24.2% of total revenues, and 30.0% of operating income. For year-to-quarter, businesses other than computers and displays contributed 27.2% of total revenues and 49.7% of operating income.

Acer Group's revenue and profit have reached a new high after the pandemic. Due to new business expansion and contributions, along with the optimization of the computers and displays business, the revenue and profit are also better than pre-pandemic levels.

[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.

© 2023 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 were Acer Inc.'s consolidated revenues for Q3 2023?

Acer Inc.'s consolidated revenues for Q3 2023 were NT$67.44 billion.

What was the margin for gross profits in Q3 2023?

The margin for gross profits in Q3 2023 was 10.8%.

How much was Acer Inc.'s operating income in Q3 2023?

Acer Inc.'s operating income in Q3 2023 was NT$1.55 billion.

What was the net income for Q3 2023?

The net income for Q3 2023 was NT$2.01 billion.

What percentage of total revenues did businesses other than computers and displays contribute in Q3 2023?

Businesses other than computers and displays contributed 24.2% of total revenues in Q3 2023.

What percentage of operating income did businesses other than computers and displays contribute in Q3 2023?

Businesses other than computers and displays contributed 30.0% of operating income in Q3 2023.

How did Acer Group's revenue and profit perform after the pandemic?

Acer Group's revenue and profit have reached a new high after the pandemic.