Acer who entered the appliance market in Australia this has reported strong global revenues with none PC or display business now accounting for over 28% of revenues and 35% of operating income.
In Q2 2024 Acer delivered consolidated revenues of A$3.13 billion, up 15.2% year-on-year
Operating income surged to NT$1.47 billion, this was up 87.9% quarter-on-quarter and 40.3% year-on-year, margins for the quarter came in at 2.2% margin.
For the first half of 2024, Acer’s performance was equally robust. Consolidated revenues hit A5.58 billion, up 13.8% year-on-year, while gross profits grew by 15.1% to A620 million with a 10.6% margin.
Operating income for 1H 2024 increased by 75.1% year-on-year to NT$2.25 billion, and net income rose 36.6% to NT$2.61 billion.
Notably, businesses outside of computers and displays contributed significantly, accounting for 28.1% of total revenues and 35.2% of operating income in Q2 2024.
The Acer Incorporated share price has soared 146% in the last half decade despite falling 4.7% before their recent announcement.
Over half a decade, Acer managed to grow its earnings per share at 13% a year.
Analysts claim that the year’s return is actually better than the average return over five years, which was 26%
A Bing Lee Acer appliances which were launched earlier this year and include their Acer Pure PRO UVC Air Purifier are currently being heavily discounted.
Year to date Acer shares are down 17.78%, they climbed 1% on their latest financial news.
