Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2020: consolidated revenues were NT$80.06 billion, up 27.3% year-on-year (YoY); gross profits were NT$8.40 billion with 10.5% margin; operating income was NT$2.91 billion, marking a new record high[1] margin of 3.64%; earnings before tax[2] was NT$3.25 billion; and net income[3] was the highest in nearly 10 years[4] at NT$2.29 billion (up 94.2% YoY) with earnings per share (EPS) of NT$0.76. For the first three quarters of 2020, Acer’s consolidated revenues were NT$194.49 billion, up 12.6% YoY, net income reached NT$4.04 billion, up 76.2% YoY with EPS of NT$1.34.
Highlights for the third quarter include year-on-year revenues for Chromebooks growing by 94.4% and for the gaming line[5] by 69.9%, showing that Acer’s strong business momentum continues.
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[1] Since 2002, after the merger of Acer Inc. and Acer Sertek.
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[2] Earnings before tax is reported as profit-before-tax in Acer’s financial statements
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[3] Net income is reported as profit-after-tax in Acer’s financial statements
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[4] Since 2011 Q1
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[5] Acer’s gaming line includes desktops, notebooks, and monitors
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