Samsung Electronics today reported financial results for the first quarter ended March 31, 2024. The Company posted KRW 71.92 trillion in consolidated revenue on the back of strong sales of flagship Galaxy S24 smartphones and higher prices for memory semiconductors. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products. The Mobile eXperience (MX) Business posted higher earnings and the Visual Display and Digital Appliances businesses also recorded increased profitability.

The weakness of the Korean won against major currencies resulted in a positive impact on company-wide operating profit of about KRW 0.3 trillion compared to the previous quarter. The Company's total capital expenditures in the first quarter stood at KRW 11.3 trillion, including KRW 9.7 trillion for the Device Solutions (DS) Division and KRW 1.1 trillion on Samsung Display Corporation (SDC). Spending on memory was focused on facilities and packaging technologies to address demand for High Bandwidth Memory (HBM), DDR5 and other advanced products, while foundry investments were concentrated on establishing infrastructure to meet medium- to long-term demand. Display investments were mainly made in IT OLED products and flexible display technologies.

Western Digital Corp. today reported fiscal third quarter 2024 financial results.

"As evidenced by our excellent third quarter results, Western Digital continues improving through-cycle profitability and dampening business cycles by leveraging our strategy of developing a diversified portfolio of industry-leading products across a broad range of end markets," said David Goeckeler, Western Digital CEO. "We are in the early innings of unlocking the full potential of this company, and as industry supply and demand dynamics continue to improve, we will remain disciplined around our capital spending and focused on driving innovation and efficiency across our businesses. We are confident in our strategy and the actions we have taken to-date, which successfully position us to capitalize on the promising growth prospects that lie ahead."

Intel Corporation today reported first-quarter 2024 financial results. "We are making steady progress against our priorities and delivered a solid quarter," said Pat Gelsinger, Intel CEO. "Strong innovation across our client, edge and data center portfolios drove double-digit revenue growth in Intel Products. With Intel 3 in high-volume production, leading-edge semiconductors are being manufactured in the U.S. for the first time in almost a decade and we are on track to regain process leadership next year as we grow Intel Foundry. We are confident in our plans to drive sequential growth throughout the year as we accelerate our AI solutions and maintain our relentless focus on execution, operational discipline and shareholder value creation in a dynamic market."

"Q1 revenue was in line with our expectations, and we delivered non-GAAP EPS above our guidance, driven by better-than-expected gross margins and strong expense discipline," said David Zinsner, Intel CFO. "Our new foundry operating model, which provides greater transparency and accountability, is already driving better decision-making across the business. Looking ahead, we expect to deliver year-over-year revenue and non-GAAP EPS growth in fiscal year 2024, including roughly 200 basis points of full-year gross margin improvement." In the first quarter, the company used $1.2 billion in cash from operations and paid dividends of $0.5 billion.

Micron Technology, Inc. today announced results for its second quarter of fiscal 2024, which ended February 29, 2024.

Fiscal Q2 2024 highlights

• Revenue of $5.82 billion versus $4.73 billion for the prior quarter and $3.69 billion for the same period last year
• GAAP net income of $793 million, or $0.71 per diluted share
• Non-GAAP net income of $476 million, or $0.42 per diluted share
• Operating cash flow of $1.22 billion versus $1.40 billion for the prior quarter and $343 million for the same period last year

"Micron delivered fiscal Q2 results with revenue, gross margin and EPS well above the high-end of our guidance range - a testament to our team's excellent execution on pricing, products and operations," said Sanjay Mehrotra, President and CEO of Micron Technology. "Our preeminent product portfolio positions us well to deliver a strong fiscal second half of 2024. We believe Micron is one of the biggest beneficiaries in the semiconductor industry of the multi-year opportunity enabled by AI."

Zhaoxin finally released its oft-delayed KX-7000 CPU series last December—the Chinese manufacturer claimed that its latest "Century Avenue Core" uArch consumer/desktop-oriented range was designed to "deliver double the performance of previous generations." Freshly discovered Geekbench 6.2.2 results indicate that Zhaoxin has succeeded on that front—Wccftech has pored over these figures, generated by an: "entry-level Zhaoxin KX-7000 CPU which has 8 cores, 8 threads, 4 MB of L2, and 32 MB of L3 cache. This chip was running at a base clock of 3.0 GHz and a boost clock of 3.3 GHz which is below its standard 3.6 GHz boost profile."

The new candidate was compared to Zhaoxin's previous-gen KX-U6780A and KX-6000G models. Intel's Core i3-10100F processor was thrown in as a familiar Western point of reference. The KX-7000 scored: "823 points in single-core, and 3813 points in multi-core tests. For comparisons, the Intel's Comet Lake CPU with 4 cores and 8 threads plus a boost of up to 4.3 GHz offers a much higher score. It's around 75% faster in single and 17% faster in multi-core tests within the same benchmark." The higher clock speeds, doubled core counts and TDPs do deliver "twice the performance" when compared to direct forebears—mission accomplished there. It is clear that Zhaoxin's latest CPU architecture cannot keep up with a generations old Team Blue design. Loongson's 3A6000 processor is a very promising prospect—reports suggest that this chip is somewhat comparable to mainstream AMD Zen 4 and Intel Raptor Lake products.

Acer Inc. (TWSE: 2353) announced today its financial results for the fourth quarter of 2023 and fiscal 2023 ended December 31. In the fourth quarter, Acer reported consolidated revenues of NT$63.15 billion, gross profits of NT$6.91 billion with 10.9% margin, operating income of NT$1.39 billion with 2.2% margin, and net income [1] of NT$1.02 billion with earning-per-share (EPS) of NT$0.34.

For the full year of 2023, consolidated revenues reached NT$241.31 billion, gross profits of NT$25.82 billion with 10.7% margin, operating income was NT$4.23 billion with 1.8% margin, and net income was NT$4.93 billion with earning-per-share (EPS) of NT$1.64. Acer's computer and display business has returned to the right track of profitability and seasonality while inventory is under control. The company is optimistic about the business opportunities that artificial intelligence brings and considers Generative AI to become a megatrend in 2024 and beyond.

HP Inc. and its subsidiaries ("HP") announced fiscal 2024 first quarter net revenue of $13.2 billion, down 4.4% (down 4.9% in constant currency) from the prior-year period. First quarter GAAP diluted net EPS was $0.62, up from $0.47 in the prior-year period and within the previously provided outlook of $0.60 to $0.70. First quarter non-GAAP diluted net EPS was $0.81, up from $0.73 in the prior-year period and within the previously provided outlook of $0.76 to $0.86. First quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $186 million, or $0.19 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits and tax adjustments.

"Our Q1 results reflect continued progress against our Future Ready plan," said Enrique Lores, HP President and CEO. "We are bringing terrific innovation to our customers while driving disciplined execution across every facet of the business. As a result, we delivered solid earnings growth this quarter and we are well positioned to accelerate as the market recovers."

Lenovo Group Limited, together with its subsidiaries ("the Group"), today announced third quarter results reporting Group revenue increasing 3% year-on-year to US$15.7 billion, and Group profitability improving quarter-to-quarter for the second time in a row. Net income was US$357 million on a non-Hong Kong Financial Reporting Standards basis, with net income margin up 0.4% quarter-to-quarter to 2.3%. The Group's diversified growth engines continued to deliver strong performance, with revenue from non-PC businesses accounting for 42% of Group revenue, up 1.3 points year-on-year.

The consistent quarter-to-quarter improvements over past quarters have been driven by the resilience of the Group's core businesses and the wider effectiveness of its ongoing transformation. The SSG business hit an important milestone of passing the US$2 billion revenue threshold, achieved a record high operating profit with operating margin of over 20% and grew revenue from managed services and project and solution services year-on-year for 11 straight quarters. The ISG business delivered quarter-to-quarter revenue growth and reached a record high US$1 billion revenue for its storage, software, and services businesses. Overall, the IDG business resumed revenue growth, outperformed the market and achieved year-on-year shipment growth for PCs, and maintained its industry-leading profitability.

NVIDIA (NASDAQ: NVDA) today reported revenue for the fourth quarter ended January 28, 2024, of $22.1 billion, up 22% from the previous quarter and up 265% from a year ago. For the quarter, GAAP earnings per diluted share was $4.93, up 33% from the previous quarter and up 765% from a year ago. Non-GAAP earnings per diluted share was $5.16, up 28% from the previous quarter and up 486% from a year ago.

For fiscal 2024, revenue was up 126% to $60.9 billion. GAAP earnings per diluted share was $11.93, up 586% from a year ago. Non-GAAP earnings per diluted share was $12.96, up 288% from a year ago. "Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations," said Jensen Huang, founder and CEO of NVIDIA.

Corsair Gaming, Inc. (Nasdaq: CRSR) ("Corsair" or the "Company"), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, today announced financial results for the fourth quarter and full year ended December 31, 2023, as well as guidance for 2024. Definitions of the non-GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading "Use and Reconciliation of Non-GAAP Financial Measures."

Andy Paul, Chief Executive Officer of Corsair, stated, "I am really excited to see that the gaming market is now showing signs of growth again after relaxing back from the surge that occurred during the pandemic. Consumer spending during the recent holiday period was better than we expected and we see that the high inventory levels at our competitors that were causing heavy discounting are generally back to normal. We saw a 16% year over year increase in our Gamer and Creator Peripherals segment for Q4 2023, which is a reflection of the market returning to growth and also Corsair gaining market share."

Silicon Motion Technology Corporation (NasdaqGS: SIMO) today announced its financial results for the quarter ended December 31, 2023. For the fourth quarter of 2023, net sales (GAAP) increased sequentially to $202.4 million from $172.3 million in the third quarter of 2023. Net income (GAAP) increased to $21.1 million, or $0.63 per diluted American Depositary Share of the Company ("ADS") (GAAP), from net income (GAAP) of $10.6 million, or $0.32 per diluted ADS (GAAP), in the third quarter of 2023. For the fourth quarter of 2023, net income (non-GAAP) increased to $31.3 million, or $0.93 per diluted ADS (non-GAAP), from net income (non-GAAP) of $21.1 million, or $0.63 per diluted ADS (non-GAAP), in the third quarter of 2023.

"Our fourth quarter results exceeded expectations as demand across the majority of our products increased sequentially, driven by holiday season demand and normalizing channel inventory," said Wallace Kou, President and CEO of Silicon Motion. "Both eMMC+UFS and SSD controller demand grew strongly in the quarter. We are confident that our teams' ongoing commitment to deliver controller solutions that enable our customers to service a broader range of markets will continue to drive share gains for us and be the foundation for strong growth in 2024 and beyond."

Western Digital Corp. today reported fiscal second quarter 2024 financial results. "Western Digital's second quarter results demonstrate that the structural changes we have put in place over the last few years and the strategy we have been executing are producing significant outperformance across our flash and HDD businesses," said David Goeckeler, Western Digital CEO. "We are seeing our efforts come to fruition as our financial performance met, or exceeded, the non-GAAP guidance ranges we provided in October, and I am confident that our strategy of managing inventory proactively, offering a broad range of products, closely controlling our product cost through focused R&D and manufacturing, and bolstering the agility of our business will allow us to improve through-cycle profitability and dampen business cycles into the future."

• Second quarter revenue was $3.03 billion, up 10% sequentially (QoQ). Cloud revenue increased 23% (QoQ), Client revenue decreased 2% (QoQ) and Consumer revenue increased 15% (QoQ).
• Second quarter GAAP earnings per share (EPS) was $(0.87) and Non-GAAP EPS was $(0.69), which includes $156 million of underutilization-related charges in Flash and HDD.
• Expect fiscal third quarter 2024 revenue to be in the range of $3.20 billion to $3.40 billion.
• Expect Non-GAAP EPS in the range of $(0.10) to $0.20, which includes $30 to $40 million of underutilization-related charges in HDD.

Intel Corporation today reported fourth-quarter and full-year 2023 financial results. "We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance," said Pat Gelsinger, Intel CEO. "The quarter capped a year of tremendous progress on Intel's transformation, where we consistently drove execution and accelerated innovation, resulting in strong customer momentum for our products. In 2024, we remain relentlessly focused on achieving process and product leadership, continuing to build our external foundry business and at-scale global manufacturing, and executing our mission to bring AI everywhere as we drive long-term value for stakeholders."

David Zinsner, Intel CFO, said, "We continued to drive operational efficiencies in the fourth quarter, and comfortably achieved our commitment to deliver $3 billion in cost savings in 2023. We expect to unlock further efficiencies in 2024 and beyond as we implement our new internal foundry model, which is designed to drive greater transparency and accountability and higher returns on our owners' capital." For the full year, the company generated $11.5 billion in cash from operations and paid dividends of $3.1 billion.

TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$625.53 billion, net income of NT$238.71 billion, and diluted earnings per share of NT$9.21 (US$1.44 per ADR unit) for the fourth quarter ended December 31, 2023.

Year-over-year, fourth quarter revenue was essentially flat while net income and diluted EPS both decreased 19.3%. Compared to third quarter 2023, fourth quarter results represented a 14.4% increase in revenue and a 13.1% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis. In US dollars, fourth quarter revenue was $19.62 billion, which decreased 1.5% year-over-year but increased 13.6% from the previous quarter.

Silicon Motion Technology Corporation (NasdaqGS: SIMO) ("Silicon Motion", the "Company" or "we") today announced its financial results for the quarter ended September 30, 2023. For the third quarter of 2023, net sales (GAAP) increased sequentially to $172.3 million from $140.4 million in the second quarter of 2023. Net income (GAAP) decreased to $10.6 million, or $0.32 per diluted American Depositary Share of the Company ("ADS") (GAAP), from net income (GAAP) of $11.0 million, or $0.33 per diluted ADS (GAAP), in the second quarter of 2023.

For the third quarter of 2023, net income (non-GAAP) increased to $21.1 million, or $0.63 per diluted ADS (non-GAAP), from net income (non-GAAP) of $12.6 million, or $0.38 per diluted ADS (non-GAAP), in the second quarter of 2023.

Samsung Electronics today reported financial results for the third quarter ended September 30, 2023. Total consolidated revenue was KRW 67.40 trillion, a 12% increase from the previous quarter, mainly due to new smartphone releases and higher sales of premium display products. Operating profit rose sequentially to KRW 2.43 trillion based on strong sales of flagship models in mobile and strong demand for displays, as losses at the Device Solutions (DS) Division narrowed.

The Memory Business reduced losses sequentially as sales of high valued-added products and average selling prices somewhat increased. Earnings in system semiconductors were impacted by a delay in demand recovery for major applications, but the Foundry Business posted a new quarterly high for new backlog from design wins. The mobile panel business reported a significant increase in earnings on the back of new flagship model releases by major customers, while the large panel business narrowed losses in the quarter. The Device eXperience (DX) Division achieved solid results due to robust sales of premium smartphones and TVs. Revenue at the Networks Business declined in major overseas markets as mobile operators scaled back investments.

Logitech International today announced financial results for the second quarter of Fiscal Year 2024.

• Sales were $1.06 billion, down 8 percent in US dollars and 9 percent in constant currency, compared to the prior year.
• GAAP operating income was $157 million, up 23 percent compared to the prior year. Non-GAAP operating income was $183 million, up 17 percent compared to the prior year. In the quarter, the Company continued to reduce operating expenses, down 9 percent compared to the prior year, in line with the decline in net sales.
• GAAP earnings per share (EPS) was $0.86, up 72 percent compared to the prior year. Non-GAAP EPS was $1.09, up 30 percent compared to the prior year.
• Cash flow from operations was $223 million, up $150 million compared to the prior year. The quarter-ending cash balance was $1.16 billion. In the quarter, the Company returned $276 million of cash to shareholders through its annual dividend payment and share repurchases.

"The Logitech team stepped up execution this quarter and delivered results that demonstrate the underlying potential of our business," said Guy Gecht, Logitech interim chief executive officer. "We made great progress toward a return to growth and exceeded our pre-pandemic profit levels. Our design-led innovation capabilities were on full display, with 16 new product introductions during the quarter. I'm proud of what our team has accomplished in this challenging environment. We remain focused on developing market leading products, operational excellence, and value creation for shareholders."

TSMC today announced consolidated revenue of NT$546.73 billion, net income of NT$211.00 billion, and diluted earnings per share of NT$8.14 (US$1.29 per ADR unit) for the third quarter ended September 30, 2023. Year-over-year, third quarter revenue decreased 10.8% while net income and diluted EPS both decreased 24.9%. Compared to second quarter 2023, third quarter results represented a 13.7% increase in revenue and a 16.1% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, third quarter revenue was $17.28 billion, which decreased 14.6% year-over-year and increased 10.2% from the previous quarter. Gross margin for the quarter was 54.3%, operating margin was 41.7%, and net profit margin was 38.6%. In the third quarter, shipments of 3-nanometer accounted for 6% of total wafer revenue; 5-nanometer accounted for 37%; 7-nanometer accounted for 16%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 59% of total wafer revenue.

Micron Technology Inc. today announced results for its fourth quarter and full year of fiscal 2023, which ended August 31, 2023.

"During fiscal 2023, amid a challenging environment for the memory and storage industry, Micron sustained technology leadership, launched a significant number of leading-edge products, and took decisive actions on supply and cost," said Micron Technology President and CEO Sanjay Mehrotra. "Our 2023 performance positions us well as a market recovery takes shape in 2024, driven by increasing demand and disciplined supply. We look forward to record industry TAM revenue in 2025 as AI proliferates from the data center to the edge."

Investments in capital expenditures, net were $1.01 billion for the fourth quarter of 2023 and $7.01 billion for the full year of 2023, which resulted in adjusted free cash flows of negative $758 million for the fourth quarter of 2023 and negative $5.45 billion for the full year of 2023. Micron ended the year with cash, marketable investments, and restricted cash of $10.52 billion. On September 27, 2023, Micron's Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on October 25, 2023, to shareholders of record as of the close of business on October 10, 2023.

Lenovo Group today announced first quarter results, reporting Group revenue of US$12.9 billion and net income of US$191 million on a non-Hong Kong Financial Reporting Standards (HKFRS) basis. Revenue from the non-PC businesses accounted for 41% of Group revenue, with the service-led business achieving strong growth and sustained profitability - further demonstrating the effectiveness of Lenovo's intelligent transformation strategy.

The Group continues to take proactive actions to keep its Expenses-to-Revenue (E/R) ratio resilient and drive sustainable profitability, whilst also investing for growth and transformation. It remains committed to doubling investment in innovation in the mid-term, including an additional US$1 billion investment over three years to accelerate artificial intelligence (AI) deployment for businesses around the world - specifically AI devices, AI infrastructure, and AI solutions.

Apple today announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The Company posted quarterly revenue of $81.8 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.26, up 5 percent year over year.

"We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said Tim Cook, Apple's CEO. "From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it."

Acer Inc. announced its financial results for the second quarter of 2023: consolidated revenues were NT$58.26 billion with 11.1% growth quarter-on-quarter (QoQ); gross profits reached NT$6.26 billion with 10.7% margin; operating income was NT$1.05 billion, up 338.6% QoQ; net income was NT$1.39 billion, up 170.2% QoQ; and earnings per share was NT$0.46 in Q2'23 and NT$0.64 in 1H'23.

The company has weathered the post-pandemic industry stress test. Acer's computer business has bottomed out around May this year, while new graphic cards and connectivity products have reached markets. Acer's computers, displays, and most of the other businesses have all contributed toward revenues and profitability. With 10 public subsidiaries and more to come, Acer is progressively enhancing its corporate resilience.

[Editor's note: NT$1.39 Billion is around US$43.9 million]

Western Digital Corp. (Nasdaq: WDC) today reported fiscal fourth quarter and fiscal year 2023 financial results. "Throughout the fiscal fourth quarter and fiscal year, Western Digital continued to optimize our operations and successfully execute our innovative product roadmap, priming ourselves for greater profitability when demand rebounds across hard drives and flash. As a result of these efforts, we delivered revenue above our expectation and delivered a range of industry-leading products to our customers," said David Goeckeler, Western Digital CEO.

"We are encouraged by several indicators signaling improving Flash market dynamics. Our two largest end markets, Client and Consumer, are returning to growth, inventories are normalizing, content per unit is increasing and price declines have been moderating. Western Digital is well-positioned to capitalize on improving market conditions and capture long-term growth opportunities in data storage, spanning from client to edge to cloud," continued David Goeckeler.

Silicon Motion Technology Corporation ("Silicon Motion", the "Company" or "we") today announced its financial results for the quarter ended June 30, 2023. For the second quarter of 2023, net sales (GAAP) increased sequentially to $140.4 million from $124.1 million in the first quarter of 2023. Net income (GAAP) increased to $11.0 million, or $0.33 per diluted American Depositary Share of the Company ("ADS") (GAAP), from net income (GAAP) of $10.2 million, or $0.30 per diluted ADS (GAAP), in the first quarter of 2023.

For the second quarter of 2023, net income (non-GAAP) increased to $12.6 million, or $0.38 per diluted ADS (non-GAAP), from net income (non-GAAP) of $11.2 million, or $0.33 per diluted ADS (non-GAAP), in the first quarter of 2023.

Samsung Electronics today reported financial results for the second quarter ended June 30, 2023. The Company posted KRW 60.01 trillion in consolidated revenue, a 6% decline from the previous quarter, mainly due to a decline in smartphone shipments despite a slight recovery in revenue of the DS (Device Solutions) Division. Operating profit rose sequentially to KRW 0.67 trillion as the DS Division posted a narrower loss, while Samsung Display Corporation (SDC) and the Digital Appliances Business saw improved profitability.

The Memory Business saw results improve from the previous quarter as its focus on High Bandwidth Memory (HBM) and DDR5 products in anticipation of robust demand for AI applications led to higher-than-guided DRAM shipments. System semiconductors posted a decline in profit due to lower utilization rates on weak demand from major applications.