Chinese semiconductor maker MediaTek today held a press conference and announced its fourth-quarter 2022 financial results.
MediaTek’s gross margin and earnings margin both dropped significantly this quarter due to customer inventory adjustments, and net profit after tax also dropped to NT$18.514 billion, a two-year low, with a net profit of NT$11.66 per share. However, MediaTek’s full-year net income improved slightly to NT$118.141 billion, up 6% year-over-year.
MediaTek said that in Q4 last year due to cell phone customers into the inventory de-stocking phase revenue significantly cooled, with the scale of revenue convergence, gross margin, and earnings margin also falling, respectively, hitting a new low of 5 quarters, 8 quarters, affecting the overall profit shrinkage.
MediaTek’s revenue in the fourth quarter of last year was NT$108.194 billion, down 23.9% QoQ and 15.9% YoY; gross margin was 48.3%, down 1 percentage point QoQ and 1.3 percentage points YoY; operating margin was 16.7%, down 6.6 percentage points QoQ and 6.4 percentage points YoY; net profit after tax was NT$18.514 billion, down 40.4% QoQ and 38.6% YoY; the net margin was 17.1%, down 17.1% QoQ and 38.6% YoY. The net profit margin was 17.1%, down 4.8 percentage points QoQ and down 6.3 percentage points YoY, and the net profit per share was NT$11.66.
Net income per share after tax was NT$11.66. …
MediaTek’s annual revenue last year was NT$548.796 billion, up 11.2% year-over-year, gross margin was 49.4%, down 2.5 percentage points year-over-year, operating margin was 23.1%, up 1.2 percentage points year-over-year, net profit after tax was NT$118.141 billion, up 6% year-over-year, the net margin was 21.6%, down 1.1 percentage points year-over-year, and net profit after tax per share was NT$74.59. Net income per share was NT$74.59.
In addition, MediaTek’s net inventory amounted to NT$70.703 billion in the fourth quarter of last year, with an inventory turnover of 126 days, up from 111 days in the previous quarter and 100 days in the same period of the previous year.
