Focusing on reducing inventory and increasing net cash
TAIPEI, Nov. 9, 2022 /PRNewswire/ — Acer Inc. (TWSE: 2353) reports its October consolidated revenues at NT$18.05 billion. Its year-to-October revenues reached NT$233.63 billion, down 10.3% year-on-year YoY. Acer is focusing on reducing inventory levels and increasing net cash to weather through the industry challenges.
Business highlights include:
- Businesses other than PCs and displays contributed 25.5% of total revenues in October, compared to 17.1% in October last year
- Businesses other than PCs and displays contributed 20.8% of total revenues in year-to-October, compared to 16.8% in the same period last year
- Businesses other than PCs and displays revenues grew 13.1% year-to-October, YoY
- Acer’s public subsidiaries have all announced their October revenues, in addition, highlights of companies under incubation include:
- Altos Computing Inc. revenues grew 149.9% year-to-October, YoY
- AcerPure Inc. revenues grew 45.8% year-to-October, YoY
Acer is committed to making ESG (environment, social, governance) initiatives a sustainable business. The eco-conscious Vero line built with recycled materials has been well received in the market. Revenue from the Vero business grew more than 30% in October YoY.
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.
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