Taiwan's Acer Q3 net below forecasts
TAIPEI Oct 22 (Reuters) - Taiwan's Acer Inc reported on Monday a net profit of T$68 million ($2.32 million) in the third quarter, up from the second quarter but far below forecasts.
A poll of 18 analysts by Thomson Reuters I/B/E/S yielded a mean estimate of a profit of T$756 million.
The company did not provide an explanation for the profit figure, but will hold a briefing on Thursday to give more details over the earnings and its outlook.
In the previous quarter it had also reported a profit far below forecasts, attributing that drop to a one-off tax issue.
The Q3 figure compares with a net profit of T$56 million in the second quarter and a net loss of T$$1.1 billion in the same quarter a year earlier.
Consolidated revenue in the third quarter was T$104.4 billion, down 5.6 percent compared to the second quarter but up 11.4 percent from a year ago.
In January to September, total revenue dropped 5.7 percent compared to a year ago.
($1 = 29.2505 Taiwan dollars) (Reporting by Clare Jim; Editing by Jonathan Standing)
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- U.S. freeze shows no sign of weekend melt after deadly storm
- Flights delayed as air pollution hits record in Shanghai
- North Korea frees U.S. Korean War veteran after seven weeks |