Acer (2353) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue reached NT$67,138 million, up 15.2% year-over-year and 14.1% sequentially from Q1 2024.

• Gross profit for Q2 2024 was NT$7,178 million, with a gross margin of 10.7%.

• Net income for Q2 2024 was NT$1.62 billion, slightly higher than NT$1.60 billion in Q2 2023; six-month net income rose to NT$3.0 billion from NT$2.26 billion year-over-year.

• Profit after tax for Q2 2024 was NT$1,404 million, with EPS of NT$0.47.

• In the first half of 2024, revenue totaled NT$125,970 million, up 14% year-over-year.

Financial highlights

• Q2 2024 operating income was NT$1,468 million, up 5.7% year-over-year and 2.2% sequentially.

• H1 2024 operating income was NT$2,249 million, up 75% year-over-year.

• Basic and diluted EPS for Q2 2024 were NT$0.47, compared to NT$0.46 in Q2 2023; six-month EPS rose to NT$0.87 from NT$0.64 year-over-year.

• Q2 2024 profit before tax was NT$2,237 million, up 40% year-over-year and 88% sequentially.

• H1 2024 profit after tax was NT$2,606 million, up 37% year-over-year; EPS was NT$0.87.

Segment performance

• Non-PC businesses contributed 28.1% of Q2 2024 revenue and 35.2% of operating income.

• Computer and display segment accounted for 71.9% of Q2 2024 revenue.

• EMEA region contributed 49.1% of Q2 2024 revenue, Pan Asia Pacific 24.2%, and Pan America 26.8%.