Acer Gadget (2432) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2023 reached NT$1,169,451 thousand, up 27% year-over-year from NT$918,632 thousand.

• Net income for the first half of 2023 was NT$45,197 thousand, a 18% increase compared to NT$38,203 thousand in the same period last year.

• Gross margin for the first half of 2023 was 13%, slightly down from 15% in the prior year.

• The company distributed a cash dividend of NT$1.65 per share, totaling NT$102,069 thousand, approved in May 2023.

Financial highlights

• Operating income for the first half of 2023 was NT$32,399 thousand, up from NT$31,712 thousand year-over-year.

• Basic and diluted EPS for the first half of 2023 were both NT$0.73, compared to NT$0.63 in the prior year.

• Cash and cash equivalents as of June 30, 2023, stood at NT$1,133,331 thousand, up from NT$780,454 thousand a year earlier.

• Operating cash flow for the first half of 2023 was NT$246,730 thousand, a significant improvement from negative NT$54,585 thousand in the prior year.

Outlook and guidance

• Management expects no material impact from newly adopted or upcoming accounting standards.

• No significant seasonal or cyclical factors are expected to affect operations.