3Q18 AUO's net profit soared

- Nov 01, 2018-

It is reported that AU Optronics (AUO) announced that its third-quarter net profit more than doubled from the previous quarter, but also warned that sales in the fourth quarter may be affected by seasonal weakness and global economic uncertainty.


AU Optronics said that during the July-September period, net profit reached NT$ 4.32 billion (US$ 139.5 million), an increase of 245% from the previous quarter, but a year-on-year decrease of 51.24%.


Third-quarter earnings per share reached NT$0.45, the highest level in the last three quarters; gross margin also rose from 9.7% in the previous quarter to 10.7%.


The company said that as customers prepare inventory for the year-end shopping season, the rise in panel prices has further contributed to profit growth.


In the first three quarters of 2018, revenue fell 11.5% to NT$25.54 billion, gross margin reached 10.4%, and net profit fell 64.9% to NT$9.88 billion or NT$1.03 per share.


Looking forward to the fourth quarter, AUO expects that the trend of customer inventory will slow down, and the escalation of Sino-US trade disputes will bring many uncertain factors to the tablet market.