Logitech International today announced financial results for the fourth quarter and full Fiscal Year 2024 ended March 31, 2024.

For Q4 Fiscal Year 2024:

• Sales were $1.01 billion, up 5 percent in US dollars and 5 percent in constant currency, compared to Q4 of the prior year.
• GAAP operating income was $130 million, up 235 percent, compared to Q4 of the prior year. Non-GAAP operating income was $159 million, up 93 percent, compared to Q4 of the prior year.
• GAAP earnings per share (EPS) was $1.07, up 312 percent compared to Q4 prior year. Non-GAAP EPS was $0.99, up 98 percent compared to the prior year.
• Cash flow from operations was $239 million, up 10 percent compared to Q4 of the prior year.

For Fiscal Year 2024:

• Sales were $4.30 billion, down 5 percent in US dollars and 6 percent in constant currency, compared to the prior year.
• GAAP operating income was $587 million, up 28 percent compared to the prior year. Non-GAAP operating income was $699 million, up 19 percent compared to the prior year.
• GAAP earnings per share (EPS) was $3.87, up 74 percent compared to the prior year. Non-GAAP EPS was $4.25, up 32 percent compared to the prior year.
• Cash flow from operations was $1.1 billion, up 114 percent compared to the prior year. The year-ending cash balance was more than $1.5 billion. The Company returned $686 million of cash to shareholders through its annual dividend payment and share repurchases.

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.

SK hynix Inc. announced today that it recorded 12.43 trillion won in revenues, 2.886 trillion won in operating profit (with an operating margin of 23%), and 1.917 trillion won in net profit (with a net margin of 15%) in the first quarter. With revenues marking an all-time high for a first quarter and the operating profit a second-highest following the records of the first quarter of 2018, SK hynix believes that it has entered the phase of a clear rebound following a prolonged downturn.

The company said that an increase in the sales of AI server products backed by its leadership in AI memory technology including HBM and continued efforts to prioritize profitability led to a 734% on-quarter jump in the operating profit. With the sales ratio of eSSD, a premium product, on the rise and the average selling prices rising, the NAND business has also achieved a meaningful turnaround in the same period.

Seagate Technology Holdings plc (NASDAQ: STX), the leading innovator of mass-capacity storage solutions, today reported financial results for its fiscal third quarter ended March 29, 2024. "Seagate's March quarter revenue grew 6% and non-GAAP EPS more than doubled over the December quarter as we benefit from improving cloud demand, our strong operating discipline and price execution. This combination sets the foundation for a return to target margin performance as the markets recover," said Dave Mosley, Seagate's chief executive officer.

"This constructive demand backdrop is well-timed as we prepare to ramp our Mozaic products, anchored by industry-leading HAMR technology. HAMR-based products offer compelling economic value for our customers and position Seagate to drive further financial performance gains, as well as capitalize on favorable long-term demand for mass capacity storage."

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.

Nintendo has published its quarterly financial results for the period ending March 31 (2024)—the numbers indicate that their trusty Switch hybrid console has continued to sell surprisingly well, despite industry watchdogs anticipating a sharp decline in late 2023. A Bloomberg Japan report has extracted crucial information from an important corporate investor call—Shuntaro Furukawa, the current company president, announced another sales milestone. The Switch has reached 139.36 million units sold (as of 31st December 2023) since its original rollout back in March 2017—it has the potential to outsell Sony's classic PlayStation 2 home console. Nintendo's CEO adhered to his company's strict script and did not address the big red elephant in the (conference) room—the highly anticipated Switch successor is an industry open secret—instead focusing on the current iteration being their "main business" going into FY2024-2025.

Despite recent "better than expected" financial figures, the Nintendo Switch is on a sales decline (going back several years)—the gaming community expected improved hardware to arrive at some point before 2024, but the House of Mario is in no rush to take on current generation Sony and Microsoft home console models. Furukawa-san stated that Nintendo will discuss its plans for the financial future during a May earnings briefing—this is largely in line with past declarations, the "Switch 2" is not arriving before Spring 2024. The latest reports suggest that the next Nintendo Direct presentation is scheduled for next week—perhaps February 15. Microsoft's Phil Spencer has teased a major Xbox "business update" announcement within the same timeframe.

AMD today announced revenue for the fourth quarter of 2023 of $6.2 billion, gross margin of 47%, operating income of $342 million, net income of $667 million and diluted earnings per share of $0.41. On a non-GAAP basis, gross margin was 51%, operating income was $1.4 billion, net income was $1.2 billion and diluted earnings per share was $0.77. For the full year 2023, the company reported revenue of $22.7 billion, gross margin of 46%, operating income of $401 million, net income of $854 million and diluted earnings per share of $0.53. On a non-GAAP(*) basis, gross margin was 50%, operating income was $4.9 billion, net income was $4.3 billion and diluted earnings per share was $2.65.

"We finished 2023 strong, with sequential and year-over-year revenue and earnings growth driven by record quarterly AMD Instinct GPU and EPYC CPU sales and higher AMD Ryzen processor sales," said AMD Chair and CEO Dr. Lisa Su. "Demand for our high-performance data center product portfolio continues to accelerate, positioning us well to deliver strong annual growth in what is an incredibly exciting time as AI re-shapes virtually every part of the computing market."

Pat Gelsinger, CEO of Intel Corporation, has outlined future performance expectations for the company's Core range of processors. In a recent fourth quarter 2023 earnings call he declared: "The Core Ultra platform delivers leadership AI performance today with our next-generation platforms launching later this year, Lunar Lake and Arrow Lake tripling our AI performance. In 2025 with Panther Lake, we will grow AI performance up to an additional 2x." Team Blue's Intel Core Ultra "Meteor Lake" mobile processors arrived right at the tail end of last year, as a somewhat delayed answer to AMD's Ryzen 7040 "Phoenix" APU series—both leveraging their own AI-crunching NPU technologies. Gelsinger believes that the launch of Lunar Lake and Arrow Lake Core product lines will bring significant (3x) AI processing improvements over Meteor Lake. He seemed to confident in a delay-free release schedule for the new year and beyond: "We are first in the industry to have incorporated both gate-all-around and backside power delivery in a single process node, the latter unexpected two years ahead of our competition. Arrow Lake, our lead Intel 20A vehicle will launch this year."

He proceeded to gush about their next node advancement: "Intel 18A is expected to achieve manufacturing readiness in second half 2024, completing our five nodes in four year journey and bringing us back to process leadership. I am pleased to say that Clearwater Forest, our first Intel 18A part for servers has already gone into fab and Panther Lake for clients will be heading into Fab shortly." Industry experts posit that Core "Panther Lake" parts could borrow elements from the next generation Xeon "Clearwater Forest" efficiency-focused family—possibly the latter's "Darkmont" E-cores, to accompany "Cougar Cove" P-cores. The Intel CEO is quite excited about the manufacturing outlay for 2025: "I'll just say, hey, we look at this every single day and we're scrutinizing carefully our progress on 18A. And obviously the great news that we just described those Clearwater Forest taping out, that gives us a lot of confidence that 18A is healthy. That's a major product for us. Panther Lake following that shortly."

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.

Seagate Technology Holdings plc (NASDAQ: STX) (the "Company" or "Seagate") today reported financial results for its fiscal second quarter ended December 29, 2023. "Seagate delivered strong financial results in the December quarter, marked by 7% sequential revenue growth and non-GAAP EPS returning to profitability and exceeding the high end of our guidance range," said Dave Mosley, Seagate's chief executive officer. "Results were led by improving cloud nearline demand as early signs of market recovery emerge."

"Seagate has consistently balanced financial discipline with execution on our areal density-leading product roadmap. Last week's launch of our Mozaic platform delivers a combination of technology advances, including HAMR, that collectively address data center operators' most important challenges: cost, power and space. Volume ramp for our first Mozaic product is underway, positioning Seagate to capture attractive Mass Capacity storage opportunities," Mosley concluded.

SK hynix Inc. announced today that it recorded an operating profit of 346 billion won in the fourth quarter of last year amid a recovery of the memory chip market, marking the first quarter of profit following four straight quarters of losses. The company posted revenues of 11.31 trillion won, operating profit of 346 billion won (operating profit margin at 3%), and net loss of 1.38 trillion won (net profit margin at negative 12%) for the three months ended December 31, 2023. (Based on K-IFRS)

SK hynix said that the overall memory market conditions improved in the last quarter of 2023 with demand for AI server and mobile applications increasing and average selling price (ASP) rising. "We recorded the first quarterly profit in a year following efforts to focus on profitability," it said. The financial results of the last quarter helped narrow the operating loss for the entire year to 7.73 trillion won (operating profit margin at negative 24%) and net loss to 9.14 trillion won (with net profit margin at negative 28%). The revenues were 32.77 trillion won.

Dell Technologies announces financial results for its fiscal 2024 third quarter. Revenue was $22.3 billion, down 10% year-over-year. The company generated operating income of $1.5 billion and non-GAAP operating income of $2 billion, down 16% and 17% year-over-year, respectively. Diluted earnings per share was $1.36, and non-GAAP diluted earnings per share was $1.88. Cash flow from operations for the third quarter was $2.2 billion, driven by profitability and strong working capital performance. The company has generated $9.9 billion of cash flow from operations throughout the last 12 months.

Dell ended the quarter with remaining performance obligations of $39 billion, recurring revenue of $5.6 billion, up 4% year-over-year, and deferred revenue of $29.1 billion, up 7% year-over-year, primarily due to increases in software and hardware maintenance agreements. The company's cash and investment balance was $9.9 billion.

AMD (NASDAQ:AMD) today announced revenue for the third quarter of 2023 of $5.8 billion, gross margin of 47%, operating income of $224 million, net income of $299 million and diluted earnings per share of $0.18. On a non-GAAP basis, gross margin was 51%, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.70.

"We delivered strong revenue and earnings growth driven by demand for our Ryzen 7000 series PC processors and record server processor sales," said AMD Chair and CEO Dr. Lisa Su. "Our data center business is on a significant growth trajectory based on the strength of our EPYC CPU portfolio and the ramp of Instinct MI300 accelerator shipments to support multiple deployments with hyperscale, enterprise and AI customers."

Western Digital Corp. (Nasdaq: WDC) today reported fiscal first quarter 2024 financial results. "Western Digital's fiscal first quarter results exceeded our expectations as the team's efforts to bolster business agility and develop differentiated and innovative products across a broad range of end-markets have resulted in sequential margin improvement across flash and HDD businesses," said David Goeckeler, Western Digital CEO. "Our Consumer and Client end markets continue to perform well and we now expect our Cloud end market to grow going forward. Our improved cost structure positions Western Digital to capitalize on enhanced earnings power as market conditions continue to improve."

• First quarter revenue was $2.75 billion, up 3% sequentially (QoQ). Cloud revenue decreased 12% (QoQ), Client revenue increased 11% (QoQ) and Consumer revenue increased 14% (QoQ).
• First quarter GAAP earnings per share (EPS) was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges in Flash and HDD.
• Expect fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion.
• Expect Non-GAAP EPS in the range of $(1.35) to $(1.05), which includes $110 to $130 million of underutilization-related charges in Flash and HDD.

Seagate Technology Holdings plc, today reported financial results for its fiscal first quarter ended September 29, 2023. "Seagate's first quarter results were in line with our revised expectations. During a longer-than-typical downcycle we have prioritized financial discipline, positive free cash flow generation and execution on our HAMR product roadmap, which will extend our industry leadership in areal density and improve the total cost of ownership for our customers," said Dave Mosley, Seagate's chief executive officer. "With indications that demand fundamentals in certain markets are starting to improve, including a modest uptick in U.S. cloud, Seagate is well positioned to enhance profitability and capture attractive long-term opportunities for Mass Capacity storage."

Quarterly Financial Results
During the fiscal first quarter the Company generated $127 million in cash flow from operations, $57 million in free cash flow, and returned $145 million of capital to shareholders through its quarterly dividend. Additionally, the Company issued $1.5 billion convertible notes due 2028 bearing an interest rate of 3.5% with the proceeds primarily used to retire the outstanding balance on its remaining term loans. As of the end of the quarter, cash and cash equivalents totaled $795 million, and there were 209 million ordinary shares issued and outstanding.

SK hynix Inc., today reported the financial results for the third quarter ended September 30, 2023. The company recorded revenues of 9.066 trillion won, operating losses of 1.792 trillion won and net losses of 2.185 trillion won in the three-month period. The operating and net margins were a negative 20% and 24%, respectively. After bottoming out in the first quarter, the business has been on a steady recovery track, helped by growing demand for products such as high-performance memory chips, the company said.

"Revenues grew 24%, while operating losses narrowed 38%, compared with the previous quarter, thanks to strong demand for high-performance mobile flagship products and HBM3, a key product for AI applications, and high-capacity DDR5," the company said, adding that a turnaround of the DRAM business following two quarters of losses is particularly hopeful. SK hynix attributed the growth in sales to increased shipments of both DRAM and NAND and a rise in the average selling price.

Dell Technologies announces financial results for its fiscal 2024 second quarter. Revenue was $22.9 billion, down 13% year-over-year and up 10% sequentially. The company generated operating income of $1.2 billion and non-GAAP operating income of $2 billion, down 8% and up 1% year-over-year, respectively. Diluted earnings per share was $0.63, and non-GAAP diluted earnings per share was $1.74, down 7% and up 4% year-over-year, respectively. Cash flow from operations for the second quarter was $3.2 billion, driven by working capital improvements, sequential growth and profitability. The company has generated $8.1 billion of cash flow from operations throughout the last 12 months.

Dell ended the quarter with remaining performance obligations of $39 billion, recurring revenue of $5.6 billion, up 8% year-over-year, and deferred revenue of $30.3 billion, up 8% year-over-year, primarily due to increases in service and software maintenance agreements. Cash and investments were $9.9 billion, and the company returned $525 million to shareholders in the second quarter through share repurchases and dividends.

NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 30, 2023, of $13.51 billion, up 101% from a year ago and up 88% from the previous quarter. GAAP earnings per diluted share for the quarter were $2.48, up 854% from a year ago and up 202% from the previous quarter. Non-GAAP earnings per diluted share were $2.70, up 429% from a year ago and up 148% from the previous quarter.

"A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI," said Jensen Huang, founder and CEO of NVIDIA. "NVIDIA GPUs connected by our Mellanox networking and switch technologies and running our CUDA AI software stack make up the computing infrastructure of generative AI.

Corsair Gaming, Inc. ("Corsair" or the "Company"), a leading global provider and innovator of high-performance gear for gamers, streamers, content-creators, and gaming PC builders, today announced financial results for the second quarter ended June 30, 2023, and reiterated its financial outlook for the full year 2023.

Second Quarter 2023 Select Financial Metrics

• Net revenue was $325.4 million compared to $283.9 million in the second quarter of 2022, an increase of 14.6%. Gaming components and systems segment net revenue was $246.7 million compared to $194.9 million in the second quarter of 2022, while Gamer and creator peripherals segment net revenue was $78.8 million compared to $89.0 million in the second quarter of 2022.
• Net income attributable to common shareholders was $1.1 million, or net income of $0.01 per diluted share, compared to a net loss of $59.4 million, or a net loss of $0.62 per diluted share, in the second quarter of 2022.
• Adjusted net income was $9.8 million, or net income of $0.09 per diluted share, compared to adjusted net loss of $19.0 million, or a net loss of $0.20 per diluted share, in the second quarter of 2022.
• Adjusted EBITDA was $17.8 million, compared to a loss of $11.0 million in the second quarter of 2022.
• Cash and cash equivalents were $184.0 million as of June 30, 2023.

AMD CEO Dr Lisa Su, in her Q2-2023 Financial Results call, confirmed that the company will launch new "enthusiast-class" gaming graphics cards within Q3-2023 (any time before October). "In gaming graphics, we expanded our Radeon 7000 GPU series in the second quarter with the launch of our mainstream RX 7600 cards for 1080p gaming. We are on track to further expand our RDNA 3 GPU offerings with the launch of new, enthusiast-class Radeon 7000 series cards in the third quarter," she stated.

There are two distinct possibilities of what "enthusiast class" entails. The first and most obvious one, could be the introduction of the RX 7800 series, including the RX 7800 XT, which is expected to closely resemble the limited-edition RX 7900 GRE by the specs; but a less talked-about possibility could even be the RX 7950 series. In its testing, the RX 7900 GRE was found to offer raster 3D performance comparable to the previous-generation RX 6950 XT although with better ray tracing performance on account of improved Ray Accelerators, which would put it behind the GeForce RTX 4070 Ti that AMD is trying to compete with. This should mean that for AMD to have a compelling "RX 7800 XT" product, it should perform faster than the RX 7900 GRE (possible through higher clock speeds or a few more CU).

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.

LG Electronics Inc. (LG) today announced second-quarter 2023 consolidated revenue of KRW 20 trillion with operating profit of KRW 741.9 billion. The company recorded the highest second-quarter revenues in company history. The second-quarter results underscore the success of the company's strategy to drive continuous growth while strengthening its business competitiveness. The record revenue reflects the company's actions to fundamentally improve its business structure by pursuing new platform-based service businesses and continuously expanding the business-to-business (B2B) segments. Profitability also was strong, although operating income was 6.3 percent lower than the second quarter last year, primarily due to a one-time second-quarter 2023 provision.

The company plans to drive further profitability improvements by optimizing efficiencies and by preemptively meeting market demands through enhanced demand forecasting and manufacturing competitiveness. LG also plans to continuously strengthen its online brand store and direct-to-consumer businesses.

Intel Corporation today reported second-quarter 2023 financial results. "Our Q2 results exceeded the high end of our guidance as we continue to execute on our strategic priorities, including building momentum with our foundry business and delivering on our product and process roadmaps," said Pat Gelsinger, Intel CEO. "We are also well-positioned to capitalize on the significant growth across the AI continuum by championing an open ecosystem and silicon solutions that optimize performance, cost and security to democratize AI from cloud to enterprise, edge and client."

David Zinsner, Intel CFO, said, "Strong execution, including progress towards our $3 billion in cost savings in 2023, contributed to the upside in the quarter. We remain focused on operational efficiencies and our Smart Capital strategy to support sustainable growth and financial discipline as we improve our margins and cash generation and drive shareholder value." In the second quarter, the company generated $2.8 billion in cash from operations and paid dividends of $0.5 billion.