Acer Reports Q3 2020 Results: Net Income NT$2.29 Billion, Highest in Nearly Ten Years

 

TAIPEI, TAIWAN (November 4, 2020) 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.

 

[1] Since 2002, after the merger of Acer Inc. and Acer Sertek.
[2] Earnings before tax is reported as profit-before-tax in Acer’s financial statements
[3] Net income is reported as profit-after-tax in Acer’s financial statements
[4] Since 2011 Q1
[5] Acer’s gaming line includes desktops, notebooks, and monitors

 

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About Acer

Founded in 1976, Acer is one of the world’s top technology companies with a presence in more than 160 countries. The company continues to evolve by embracing innovation across its offerings, which include computers and displays, while branching out to new businesses. Acer is also committed to sustainable growth, exploring new opportunities that align with its environmental and social responsibilities. The Acer Group employs over 8,000 employees that contribute to the research, design, marketing, sales and support of products, solutions, and services that break barriers between people and technology. Visit www.acer.com for more information.