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Acer Reports Q2 2020 Results: Operating Income NT$2.13 Billion with Record High Margin

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2020/08/05 06:18:58 (permalink)
https://markets.businessinsider.com/news/stocks/acer-reports-q2-2020-results-operating-income-nt-2-13-billion-with-record-high-margin-of-3-2-1029471534
 
Acer Inc. (TWSE: 2353) announced its financial results for the second quarter of 2020: consolidated revenues were NT$65.58 billion; gross profits were NT$7.14 billion with 10.9% margin; operating income was NT$2.13 billion, marking a record high[1] margin of 3.2%; earnings before tax was NT$1.65 billion; and net income was NT$1.20 billion with earnings per share (EPS) of NT$0.40. In the six months ended June 30, 2020, Acer's net income reached NT$1.75 billion, up 57.2% year-on-year (YoY) with EPS of NT$0.58.

In Q2, Acer saw strong business momentum due to work-from-home and distance learning needs in the EMEA (Europe, Middle East, Africa) and Pan America regions, while Pan Asia Pacific continued its recovery from the pandemic lockdown. At the same time, Acer's multiple business engines continued their strong momentum; notable performances in Q2 net income include Acer Cyber Security with 24% growth YoY, Weblink International with 25% growth YoY, and Acer Synergy Tech with 88% growth YoY.
 
Looks to me like the pandemic lockdown has benefitted Acer. 

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