FPT (FPT) Q3 2024 earnings summary

Executive summary

• Achieved 19.3% year-over-year revenue growth and 20.6% profit growth for the first nine months of 2024, closely tracking annual guidance.

• Q3 2024 revenue was VND 15,903 billion, up 15.6% year-over-year; profit after tax was VND 2,479 billion, up 19.4%.

• Growth was mainly driven by Global IT Services, especially in Japanese and APAC markets.

• Focused on value creation and shareholder interests, with strong performance across core business segments.

Financial highlights

• Revenue for 9M 2024 reached VND 45,241 billion, up 19.3% year-over-year.

• Profit after tax for 9M 2024 was VND 6,927 billion, up 20.6% year-over-year.

• Basic EPS for 9M 2024 was VND 3,945, up from VND 3,255 for 9M 2023.

• Cash and cash equivalents at 30/9/2024: VND 7,936 billion.

• Total assets as of 30/9/2024: VND 67,582 billion; equity: VND 35,364 billion.

Segment performance

• Global IT Services revenue for 9M 2024 surged 28.6% to VND 22,668 billion; pre-tax profit up 25.6%.

• Domestic IT Services revenue grew 8.3% to VND 5,296 billion; pre-tax profit declined 21.2%.

• Telecom Services revenue rose 9.2% to VND 12,320 billion; pre-tax profit up 14.9%.

• Online Advertising revenue increased 16.2% to VND 480 billion; pre-tax profit up 45.4%.

• Education, Investment, and Others revenue up 20.3% to VND 4,477 billion; pre-tax profit up 21.7%.