MediaTek (2454) Q4 2023 earnings summary

Executive summary

• Q4 rebound lifted revenue, operating income and net income YoY and QoQ; FY2023 revenue and earnings remained below 2022.

Financial highlights

• Q4 revenue was NT$129,562 million, up 19.7% YoY and 17.7% QoQ; FY2023 revenue fell 21.0% to NT$433,446 million.

• Q4 operating income rose 36.8% YoY to NT$24,736 million; FY2023 operating income fell 43.4% to NT$71,800 million.

• Q4 net income increased 38.9% YoY to NT$25,713 million; FY2023 net income declined 34.9% to NT$77,191 million.

Key financial ratios and metrics

• Q4 gross margin was 48.3%, flat YoY and up 0.9pt QoQ; FY2023 gross margin was 47.8%, down 1.6pt YoY.

• Q4 operating margin was 19.1%, up 2.4pt YoY and 2.8pt QoQ; FY2023 operating margin was 16.6%, down 6.5pt YoY.

• Q4 net margin was 19.8%, up 2.7pt YoY and 2.9pt QoQ; FY2023 net margin was 17.8%, down 3.8pt YoY.

• Q4 EPS was NT$16.15, up NT$4.49 YoY and NT$4.51 QoQ; FY2023 EPS was NT$48.51, down NT$26.08 YoY.