Acer Reports Strong July Performance with 32.3% Year-on-Year Revenue Growth

Acer subsidiaries drive growth, boosting resilience and optimism amid PC market fluctuations

Despite ongoing challenges in the computer market, Acer remains confident in its overall performance for the second half of the year. All its subsidiaries recorded double-digit revenue and profit increases in the second quarter and are optimistic about their performance prospects in the coming months, mitigating the impact of headwinds on the parent company. Acer Chairman Jason Chen has outlined the company's transformation from a computer hardware-focused to a computing technology-driven enterprise, emphasizing a shift from a rational to an emotional brand image. Key to this evolution is the development of subsidiaries such as Acer Gadget, Acer Cyber Security Inc. (ACSI), Acer e-Enabling Service Business Inc. (AEB), and AOPEN Inc. Chen stressed that these subsidiaries have created multiple revenue streams, enabling Acer to withstand market fluctuations. When economic conditions are challenging, subsidiaries can absorb pressure, and they can also seize opportunities during market upturns. For example, AOPEN is doing well in the segment of charging stations, and AEB benefits from AI advancements. The strong financial performance of Acer's subsidiaries in the second quarter highlights their role as growth drivers for the parent group. These businesses are poised for continued expansion in the second half of 2024. Among them, Acer Gadget leads Acer's transformation into a lifestyle brand. Starting from PC peripherals, the subsidiary leverages technology and creativity to develop products that enhance everyday life. From fashion and travel to work and leisure, Acer Gadget offers innovative solutions for a smarter, more convenient lifestyle. Acer Gadget reported strong financial results for the second quarter of 2024. Revenue climbed 4.18% sequentially and 18.68% year-on-year to NT$597 million (US$18.27 million), while net profit surged 106.66% quarter-on-quarter and 19.23% year-on-year, reaching NT$31 million. Its revenue for the first seven months of the year totaled NT$1.378 billion, representing a 24.6% annual increase. ACSI, catering to the stringent cybersecurity demands of enterprises and government agencies, saw its second-quarter revenue hit a record high and achieve double-digit annual growth for five consecutive years. Its revenue for the quarter surged 18% year-on-year to NT$529 million, while net earnings climbed 23% to NT$55 million. AEB has successfully capitalized on AI's commercial potential. In the second quarter, the company's revenue grew 8.57% sequentially and 15.65% annually to NT$2.355 billion, while net profit increased by 6.99% sequentially and 10.86% year-on-year, reaching NT$153 million. These results drove AEB's revenue and profit for the first half of 2024 to record highs. AOPEN has announced a strategic investment in Amadana, a Tokyo-based premium home appliance brand and design studio. This move aligns with Acer Group's broader strategy of building a lifestyle brand. Upon completion of the investment, AOPEN will own a 90% stake in Amadana. Founded in 2002, Amadana is renowned for its elegant integration of products into living spaces. Initially focused on air purifiers, refrigerators, and headphones, the brand has expanded into design consulting services in addition to its home appliance line.

Acer Announces July Consolidated Revenues at NT$23.45 Billion, Up 32.3% Year-on-year - Acer (OTC:ACEYY)

TAIPEI, Aug. 8, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its consolidated revenues for July at NT$23.45 billion with 32.3% growth year-on-year (YoY), achieving 13 consecutive months of YoY growth. Consolidated revenues for year-to-July reached NT$149.45 billion with 16.4% growth YoY, while revenues from the personal computers [1] and display business grew 37.6% YoY in July and 18.8% YoY year-to-July. Acer's strategy to expand multiple business engines continued to gain momentum. Total revenues from businesses other than computers and displays contributed 27.0% of the group's total revenues in July and 28.4% year-to-July. Acer's public subsidiaries have announced their July revenues; some highlights for businesses under incubation include: Altos Computing Inc., specializing in AI server and workstations, its revenues grew 30.1% YoY in July and 96.8% YoY year-to-JulyAcerpure Inc. revenues grew 67.5% YoY in July and 28.8% YoY year-to-JulyAcer ITS Inc. revenues grew 42.6% YoY in July and 25.3% YoY year-to-July [1] Personal computers business includes desktop and notebooks About Acer Founded in 1976, Acer is one of the world's top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer's 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information. © 2024 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra. View original content to download multimedia:https://www.prnewswire.com/news-releases/acer-announces-july-consolidated-revenues-at-nt23-45-billion-up-32-3-year-on-year-302217788.html SOURCE Acer Market News and Data brought to you by Benzinga APIs