Quanta Computer (2382) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of NT$504.1 billion in Q2 2024, up 3.8% sequentially and 62.6% year-over-year, driven by robust AI server and notebook demand.

• Net income for Q2 2024 was NT$17.1 billion, down 13.5% quarter-on-quarter but up 11.8% year-over-year; EPS for the quarter was NT$4.37.

• First half 2024 revenue was NT$989.8 billion, up 74% year-over-year; net income for H1 was NT$36.4 billion, up 33.8%.

• AI server shipments and revenue remain strong, with a transition underway from GB200 to GB300 platforms.

• Board approved major investments in the US and Mexico to expand AI server capacity and in quantum computing.

Financial highlights

• Gross profit for Q2 2024 was NT$35.5 billion, down 7.7% sequentially but up 33.5% year-over-year; gross margin at 7.0%, down from 8.6% in Q2 2023.

• Operating profit for Q2 2024 was NT$20.4 billion, down 17% sequentially but up 34.2% year-over-year; operating margin at 4%.

• Non-operating income was NT$1.2 billion, with significant FX and interest expenses.

• Cash and short-term investments at June 30, 2024, were NT$194.1 billion, down from NT$214.6 billion at March 31, 2025.

• Inventory at a record NT$286 billion due to AI project ramp.

Outlook and guidance

• AI server sales expected to maintain Q2 pace in Q3, with GB300 platform ramping up.

• General compute servers returning to healthy growth; notebook shipments stable with low single-digit sequential growth expected in Q3.

• Full-year guidance maintained for single-digit YoY growth in notebooks.

• Margin pressure anticipated in Q3 due to product mix shift and residual FX volatility.

• Management expects continued growth in H2 2024, driven by strong electronics demand and overseas expansion.