According to Taiwan’s Economic Daily News, MSI disclosed financial data today showing net income after tax of NT$1.608 billion (about RMB 367 million) in the third quarter of 2022, down 47.1 percent sequentially and 64 percent year-over-year, mainly due to the impact of falling prices and volumes of motherboards and graphics cards on profitability.
MSI’s October 2022 revenue was NT$13.653 billion (about RMB3.113 billion), up 5.1% sequentially and down 31.48% year-over-year; revenue for the first 10 months of 2022 was NT$153.274 billion (about RMB34.946 billion), down 7.92% year-over-year.
In addition, MSI’s net income after tax for the first three quarters of the year was NT$9.417 billion (approximately RMB2.147 billion), a decrease of 27.7% year-over-year.
Looking ahead to the fourth quarter of 2022, the company said it expects revenue to increase slightly by 4% QoQ to NT$40.2 billion, down 26% YoY, benefiting from the launch of Nvidia’s new RTX 40 series graphics cards, and is expected to grow 15% QoQ, mainly due to continued inventory reduction.
