PC vendor Asustek Computer Inc. (2357-TW) announced its first-quarter financial results on Wednesday (May 11), and the business season was not slow as the momentum of notebooks and motherboards continued.
Despite uncertainties, such as the Russia-Ukraine war, the company earned more than one equity in the quarter. After-tax net income reached NT$10.43 billion while earnings per share (EPS) topped NT$14, an all-time record for the first quarter.
Asustek’s consolidated revenue across brands was NT$127.962 billion in the first quarter, down 9.78% quarter-on-quarter (QoQ) and up 18.37% year-on-year (YoY).
Gross margin was 18.67%, down 0.91% QoQ and 3.34% YoY, while profit margin was 7.87%, a decrease of 0.82 percentage points QoQ and 2.82 percentage points YoY.
Net income after tax was NT$10.43 billion, down 13.5% QoQ and up 6.53% YoY, earning more than one share of capital and a net income of NT$14 per share.
On the non-industrial front, Asustek’s non-industrial profit in the first quarter was NT$2.97 billion, up 72% QoQ and 328% YoY. Among major items, foreign exchange benefits amounted to NT$1.091 billion. At the same time, Asustek’s investment in the company was affected by work stoppage incidents, turning to an after-tax loss of NT$182 million in a single quarter.
In terms of product revenue, PC accounted for 66% of Asustek’s revenue in the first quarter, while components and cell phones accounted for 33% and 1%, respectively. Asia remains the top shipment destination for the whole year with 47%, while Europe and the Americas each account for 30% and 23%, respectively.
Looking ahead to this quarter, Asustek expects PC and component shipments to decrease quarterly, with PC shipments expected to decrease by about 10% quarterly and component shipments estimated to decrease by 10-15% quarterly.
Meanwhile, Asustek also announced the launch of several new AMD-US RX6000 graphics cards today, including the ASUS TUF Gaming Radeon RX 6950 XT, ROG Strix Radeon RX 6750 XT.
The ASUS Dual Radeon RX 6750 / 6650 XT, ASUS Dual Radeon RX 6400, and Phoenix Radeon RX 6400 graphics cards will further meet entry-level and high-end gamers’ different needs and add momentum to the business.