Acer Announces Q1 2023 Net Income at NT$515.17 Million, EPS NT$0.17

TAIPEI,May 4,2023 -- Acer Inc. (TWSE: 2353) announced its financial results for the first quarter of 2023. Consolidated revenues reached NT$52.46 billion,gross profits reached NT$5.36 billion and maintained a margin of 10.2%,while inventory was further reduced to NT$39.46 billion in value. Operating income was NT$239 million and net income[1] was NT$515.17 million with earnings-per-share (EPS) of NT$0.17. According to third-party data,Acer's PC market share held up at about the same level as during the first quarter last year.

Acer expects its business to have reached a low point in the first quarter,and that moving on,the computer and displays business will start to regain business momentum. Meanwhile,Acer's multiple businesses are gaining traction; based on the business progress,several more businesses will go public during 2023.

Acer's Board of Directors today appointed Victor Chien as Corporate President,effective immediately. Chien has served at the company for over 20 years and has delivered outstanding results at the Digital Display Business and as Chairman of AOPEN Inc.,an Acer subsidiary. He doubled majored at National Chiao Tung University in Taiwan with both a bachelor's degree in Control Engineering and also Management Science.

In addition,Co-COO Tiffany Huang will retire,and her corporate duties will be overseen by Victor Chien. Her role as President of China Operations will be handed over to PAP Regional Operations President Andrew Hou,while Acer's Taiwan Operations will directly report to Chien. In order to ensure a smooth handover,Huang will take on a corporate advisor role to help Acer's transformation and transition.

[1] Net income/loss is reported as profit-after-tax in Acer's financial statements.

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.

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