Alchip Technologies
Alchip Technologies Sets Record Q2 Financial Results
Alchip Technologies Sets Record Q2 Financial Results
Revenue, Operating Income, and Net Income Reach Q2 Historic Highs
Taipei, Taiwan, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Alchip Technologies’ Q2 2024 financial results set second-quarter records for revenue, operating income, and net income.
Second-quarter 2024 revenue notched a record $421 million, up 62.8% from Q2 2023 revenue of $258.5 million and up 26.2% over Q1 2024 revenue of $333.6 million. Operating income for the second quarter of 2024 was a record $51.2 million, representing an 80.2% increase over Q2 2023 operating income of $28.4 million, and a 32.8% increase over Q1 2024 operating income of $38.5 million.
At the same time, second-quarter 2024 net income set a record of $49.3 million, 105.8% higher than Q2 2023 net income of $23.9 million, and up 26.3% compared to Q1 2024 net income of $39 million. Earnings per share for Q2 2024 were NTD 20.1.
Commenting on the record results, Alchip President and CEO Johnny Shen cited revenue growth driven by higher-than-expected AI ASIC shipments to a major customer; in particular the shipments of AI ASIC to a North America service customer and the ramp-up of a 5nm AI accelerator to a North America IDM customer.
In total, AI and high-performance computing applications accounted for 91% of Q2 2024 revenue, with networking contributing 6%, niche applications adding 2%, and consumer uses accounting for the remaining 1%.
On a process technology basis, revenue derived from designs at 7nm and more advanced nodes accounted for 96% of Q2 2024 revenue and 95% of first-half 2024 revenue. The North America region accounted for 78% of Q2 2024 revenue, while the Asia Pacific region contributed 8%, with Japan and other regions made up the remaining 14%.
About Alchip
Alchip Technologies Ltd., established in 2003 and headquartered in Taipei, Taiwan, is a global leader in silicon design and production services for companies developing complex, high-volume ASICs and SoCs. Renowned for accelerating time-to-market and offering cost-effective solutions, Alchip excels in high-performance ASICs with expertise in advanced packaging (CoWoS-S/R), 2.5D/3DIC, and Chiplet design. Serving industry giants in AI/HPC, supercomputing, networking, and consumer electronics, Alchip has cemented its reputation for cutting-edge innovation. The company is publicly listed on the Taiwan Stock Exchange (TWSE: 3661).
For more information, please visit our website: http://www.alchip.com
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