Acer Reports Net Income for Q3 2022 at NT$1.88 Billion, for Year-to-September at NT$5.84 Billion with EPS NT$1.94

Rhea-AI Summary

Acer Inc. (TWSE: 2353) announced its Q3 2022 financial results, reporting consolidated revenues of NT$64.89 billion and a net income of NT$1.88 billion, down 37.8% YoY but up 8.8% sequentially. For the year-to-date, revenues totaled NT$215.59 billion with a net income of NT$5.84 billion, reflecting a 32.6% YoY decline. Notably, operating income was NT$829.61 million, with a gross profit margin of 10.1%. Acer reduced its inventory to NT$58.13 billion, enhancing cash flow from operations to NT$11.78 billion.

Positive

• Operating income reported at NT$829.61 million.
• Gross profit margin improved to 10.1%.
• Public subsidiaries contributed 43% to total operating income.

Negative

• Net income down 37.8% YoY.
• Year-to-date net income of NT$5.84 billion represents a 32.6% YoY decline.
• Earnings per share (EPS) declined to NT$1.94.

TAIPEI, Nov. 3, 2022 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2022: consolidated revenues were NT$64.89 billion; gross profits ended at NT$6.56 billion with 10.1% margin; operating income was NT$829.61 million; and net income ^[1] was NT$1.88 billion, which was up 8.8% from the previous quarter or down 37.8% year-on-year (YoY).

For year-to-September, Acer generated consolidated revenues of NT$215.59 billion, net income of NT$5.84 billion, which was down 32.6% YoY, and earnings per share (EPS) of NT$1.94.

Business highlights:

• The public subsidiaries have all announced their business results with profitability. They contributed to 43% of total operating income of the Acer Group while accounting for 16% of total revenues.
• Acer strives to optimize its financial position by enhancing its supply chain management and product sell through:
• Inventory level was NT$58.13 billion, a reduction of NT$5.31 billion and marks a continuous reduction from the first quarter
• Cash flow from operations was NT$11.78 billion

[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.

© 2022 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/acer-reports-net-income-for-q3-2022-at-nt1-88-billion-for-year-to-september-at-nt5-84-billion-with-eps-nt1-94--301667377.html

SOURCE Acer

FAQ

What were Acer's financial results for Q3 2022?

Acer reported consolidated revenues of NT$64.89 billion and a net income of NT$1.88 billion for Q3 2022.

How does Acer's Q3 2022 performance compare to the previous quarter?

Net income in Q3 2022 was up 8.8% from the previous quarter.

What is Acer's net income for the year-to-date 2022?

For the year-to-date, Acer's net income is NT$5.84 billion, down 32.6% YoY.

What was the gross profit margin reported by Acer for Q3 2022?

Acer reported a gross profit margin of 10.1% for Q3 2022.

What is Acer's current EPS as per the latest report?

Acer's earnings per share (EPS) is NT$1.94 for the year-to-date 2022.