Acer (2353) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached NT$72,691 million, up 8.3% sequentially and 7.8% year-over-year.

• Operating income for Q3 2024 was NT$1,603 million, a 9% increase from Q2 2024 and 4% higher than Q3 2023.

• Net income attributable to shareholders for Q3 2024 was NT$1.5 billion, with basic EPS of NT$0.50, down from NT$0.67 in Q3 2023.

• For the first nine months of 2024, revenue totaled NT$198,661 million, up 12% year-over-year.

• Non-PC businesses contributed 26.9% of Q3 revenues, growing 20% year-over-year.

Financial highlights

• Gross profit in Q3 2024 was NT$7,676 million, up 6.9% sequentially and 5.2% year-over-year.

• Q3 2024 gross margin was 10.6%, with operating margin at 2.2%.

• Cash and cash equivalents at September 2024 were NT$31,697 million, down from NT$48.1 billion at year-end 2023.

• Total shareholders' equity was NT$81,077 million at the end of Q3 2024.

• Net cash used in operating activities for the nine months ended September 30, 2024 was NT$9.2 billion, compared to NT$12.2 billion provided in the same period last year.

Segment performance

• Non-PC businesses made up 28.0% of nine-month revenues, growing 15.7% year-over-year.

• In Q3 2024, EMEA region contributed 51.2% of revenue, Pan America 25.3%, and Pan Asia Pacific 23.5%.

• Non-PC segment accounted for 28.1% of Q3 2024 revenue, up from 24.2% in Q3 2023.

• Public subsidiaries contributed 36.5% of operating income for the first nine months.