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Corsair Gaming Reports First Quarter 2022 Financial Results

Corsair Gaming, Inc. (Nasdaq:CRSR), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced financial results for the quarter ended March 31, 2022. Definitions of the non-GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading "Use and Reconciliation of Non-GAAP Financial Measures."

Andy Paul, Chief Executive Officer of Corsair, stated, "While we faced headwinds in Q1, with inflation, the continued Russia and Ukraine conflict, and high freight costs, we continue to see positive underlying growth trends in the gaming hardware sector. During Q1, GPU cards, which are the most expensive item in a gaming PC, were still at a high premium, roughly 150% of MSRP, and even with this premium we saw gaming PC build activity slightly higher than pre-pandemic and pre-GPU shortage levels. Our components segment grew by 6% in Q1 2022 compared with Q1 2020, the last Q1 before the pandemic and shelter at home.

ASML Reports Q1 2022 Financial Results

Our first-quarter net sales came in at €3.5 billion which is at the high end of our guidance. The gross margin of 49.0%, is as guided. Our first-quarter net bookings came in at €7.0 billion, including €2.5 billion from 0.33 NA and 0.55 NA EUV systems as well as very strong DUV bookings, reflecting the continued high demand for advanced and mature nodes.

"We continue to see that the demand for our systems is higher than our current production capacity. We accommodate our customers through offering high-productivity upgrades and reducing cycle time in our factories, and we continue to offer a fast shipment process. In addition, we are actively working to significantly expand capacity together with our supply chain partners. In light of the demand and our plans to increase capacity, we expect to revisit our scenarios for 2025 and growth opportunities beyond. We plan to communicate updates in the second half of the year.

Acer Reports FY2021 Financial Results with Profitability Returning to Over NT$10 Billion

Acer Inc. (2353.TW) announced its financial results for the fourth quarter of 2021 and fiscal 2021 ended December 31. For the fourth quarter, Acer reported consolidated revenues of NT$86.53 billion; gross profits of NT$9.92 billion with 11.5% margin; operating income of NT$3.91 billion, with 4.5% margin; net income of NT$2.24 billion, and earnings per share (EPS) of NT$0.75.

For the full year of 2021, Acer reported consolidated revenues of NT$319.01 billion, gross profits of NT$37.19 billion with 11.7% margin, operating income of NT$14.16 billion with 58.5% in year-on-year (YoY) growth and a record high 4.4% margin. The net income of NT$10.90 billion and EPS of NT$3.63 were both the highest in 11 years.

Seagate Technology Reports Fiscal Second Quarter 2022 Financial Results

Seagate Technology Holdings plc (NASDAQ: STX) today reported financial results for its fiscal second quarter ended December 31, 2021. "Calendar 2021 was an outstanding year for Seagate. Compared with the prior calendar year, we grew revenue by 18% and more importantly, delivered free cash flow growth of 39%, which we are deploying effectively into our long-standing capital returns program," said Dave Mosley, Seagate's chief executive officer.

"The calendar year was capped by strong December quarter performance including our highest revenue level in over 6-years, supported by cloud data center demand for our high capacity nearline products. We continue to execute amid a very dynamic business environment. Barring any significant additional macro disruptions, we expect to build on our 2021 performance this calendar year and beyond as favorable demand trends support revenue expansion consistent with our long-term financial model range of 3-to-6% growth."

SK hynix Reports Fiscal Year 2021 and Fourth Quarter Results

SK hynix today announced financial results for its fiscal year 2021 ended on December 31, 2021. The consolidated revenue of fiscal year 2021 was 42.998 trillion won, while the operating profit amounted to 12.410 trillion won and the net income 9.616 trillion won. Operating margin for the year was 29% and net margin was 22%. SK hynix achieved record high annual revenue since its foundation. This surpasses the revenue in 2018 when the semiconductor market was in its biggest boom.

Despite uncertain market conditions such as supply chain disruptions, demand for contactless IT technology has increased. Based on its technology and quality competitiveness, SK hynix managed to supply its products proactively, achieving record-breaking annual sales. For DRAM, SK hynix focused on securing profitability by flexibly responding to demands in PC and server applications in DRAM business. Furthermore, by developing the industry's first DDR5 and HBM3 DRAM, SK hynix has secured leading quality competitiveness in high value-added next-gen products.

Micron Technology Reports Results for the First Quarter of Fiscal 2022

Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2022, which ended Dec. 2, 2021. "Micron delivered solid fiscal first quarter results led by strong product portfolio momentum," said Micron Technology President and CEO Sanjay Mehrotra. "We are now shipping our industry-leading DRAM and NAND technologies across major end markets, and we delivered new solutions to data center, client, mobile, graphics and automotive customers. As powerful secular trends including 5G, AI, and EV adoption fuel demand growth, our technology leadership and world-class execution position us to create significant shareholder value in fiscal 2022 and beyond."

NVIDIA Announces Financial Results for Third Quarter Fiscal 2022

NVIDIA today reported record revenue for the third quarter ended October 31, 2021, of $7.10 billion, up 50 percent from a year earlier and up 9 percent from the previous quarter, with record revenue from the company's Gaming, Data Center and Professional Visualization market platforms. GAAP earnings per diluted share for the quarter were $0.97, up 83 percent from a year ago and up 3 percent from the previous quarter. Non-GAAP earnings per diluted share were $1.17, up 60 percent from a year ago and up 13 percent from the previous quarter.

"The third quarter was outstanding, with record revenue," said Jensen Huang, founder and CEO of NVIDIA. "Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.

TOP500 Update Shows No Exascale Yet, Japanese Fugaku Supercomputer Still at the Top

The 58th annual edition of the TOP500 saw little change in the Top10. The Microsoft Azure system called Voyager-EUS2 was the only machine to shake up the top spots, claiming No. 10. Based on an AMD EPYC processor with 48 cores and 2.45GHz working together with an NVIDIA A100 GPU and 80 GB of memory, Voyager-EUS2 also utilizes a Mellanox HDR Infiniband for data transfer.

While there were no other changes to the positions of the systems in the Top10, Perlmutter at NERSC improved its performance to 70.9 Pflop/s. Housed at the Lawrence Berkeley National Laboratory, Perlmutter's increased performance couldn't move it from its previously held No. 5 spot.

Intel Core i5-12600K CPU-Z Scores Show 50% Higher Multi-Threaded Results Than i5-11600K

Intel's upcoming Alder Lake-S lineup of processors is shaping up to be a rather good generational improvement. With wonders of the Intel 7 process, previously called 10 nm Enhanced SuperFin (10ESF), the processor lineup will deliver new hybrid technology, mixing new big and small cores into one package. Today, some new CPU-Z validation tests have shown up for the Intel Core i5-12600K CPU, which directly replaces the previous Core i5-11600K Rocket Lake model. With six high-performance Golden Cove and four efficient Gracemont cores, the Core i5-12600K CPU is a ten-core design with 16 threads. And compared to the 6C/12T i5-12600K CPU, the performance is much higher.

According to CPU-Z scores, the new Alder Lake processor scored 7220 and 7156 points for a multi-threaded benchmark in two tests. Compare this to the previous-generation model, which scores 4731 points, and the new chip is almost 50% faster. According to CPU-Z, the new CPU achieved this while running at a boost frequency of 4.5 GHz to 4.7 GHz.

SK hynix Inc. Reports Third Quarter 2021 Results

SK hynix Inc. (or 'the Company', www.skhynix.com) today announced financial results for its third quarter 2021 ended on September 30, 2021. The consolidated revenue of the third quarter 2021 was 11.805 trillion won, while the operating profit amounted to 4.172 trillion won and the net income 3.315 trillion won. Operating margin for the quarter was 35% and net margin was 28%.

SK hynix achieved record high quarterly revenue since its foundation, and regained operating profit more than 4 trillion won after two and a half years since the fourth quarter of 2018. The increased semiconductor memory demand for server and smartphone (mobile) applications, alongside the improved product prices, contributed to the Company's record-breaking quarterly revenue.

Micron Technology Reports Results for the Fourth Quarter and Full Year of Fiscal 2021

Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2021, which ended Sept. 2, 2021. "Micron's outstanding fourth quarter execution capped a year of several key milestones," said Micron Technology President and CEO Sanjay Mehrotra. "In fiscal 2021, we established DRAM and NAND technology leadership, drove record revenues across multiple markets, and initiated a quarterly dividend. The demand outlook for 2022 is strong, and Micron is delivering innovative solutions to our customers, fueling our long-term growth."

Investments in capital expenditures, net were $2.01 billion for the fourth quarter of 2021 and $9.72 billion for the full year of 2021, which resulted in adjusted free cash flows of $1.88 billion for the fourth quarter of 2021 and $2.75 billion for the full year of 2021. Micron repurchased approximately 13.9 million shares of its common stock for $1.05 billion during the fourth quarter of 2021 and 15.6 million shares of its common stock for $1.20 billion during the full year of 2021 and ended the year with cash, marketable investments, and restricted cash of $10.46 billion, for a net cash position of $3.69 billion.

AMD Reports Second Quarter 2021 Financial Results, 99% Growth YoY

AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2021 of $3.85 billion, operating income of $831 million, net income of $710 million and diluted earnings per share of $0.58. On a non-GAAP basis, operating income was $924 million, net income was $778 million and diluted earnings per share was $0.63.

"Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year," said AMD president and CEO Lisa Su. "We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60 percent year-over-year driven by strong execution and increased customer preference for our leadership products."

Silicon Motion Announces Results for the Period Ended March 31, 2021

Silicon Motion Technology Corporation today announced its financial results for the quarter ended March 31, 2021. For the first quarter, net sales (GAAP) increased sequentially to $182.4 million from $143.9 million in fourth quarter 2020. Net income (GAAP) increased to $34.4 million or $0.98 per diluted ADS (GAAP) from net income (GAAP) of $1.4 million or $0.04 per diluted ADS (GAAP) in fourth quarter 2020. For the first quarter, net income (non-GAAP) increased to $38.7 million or $1.11 per diluted ADS (non-GAAP) from a net income (non-GAAP) of $29.9 million or $0.86 per diluted ADS (non-GAAP) in fourth quarter 2020.

"As we had previously communicated, we are seeing very strong demand for our SSD and eMMC+UFS controllers," said Wallace Kou, President and CEO of Silicon Motion. "Customer demand was well in excess of our ability to supply as both our foundry supply and inventory on hand are limited."

Xilinx Reports Fiscal Fourth Quarter and Fiscal Year 2021 Results

Xilinx, Inc. (Nasdaq: XLNX), the leader in adaptive computing, today announced record revenues of $851 million for the fiscal fourth quarter, up 6% over the previous quarter and an increase of 13% year over year. Fiscal 2021 revenues were $3.15 billion, largely flat from the prior fiscal year. GAAP net income for the fiscal fourth quarter was $188 million, or $0.75 per diluted share. Non-GAAP net income for the quarter was $204 million, or $0.82 per diluted share. GAAP net income for fiscal year 2021 was $647 million, or $2.62 per diluted share. Non-GAAP net income for fiscal year 2021 was $762 million, or $3.08 per diluted share.

Additional fourth quarter of fiscal year 2021 comparisons are provided in the charts below. "We are pleased with our fourth quarter results as we delivered record revenues and double-digit year-over-year growth in the midst of a challenging supply chain environment," said Victor Peng, Xilinx president and CEO. "Xilinx saw further improvement in demand across a majority of our diversified end markets with key strength in our Wireless, Data Center and Automotive markets, the pillars of our growth strategy. Our teams have executed well and we remain focused on continuing to meet customers' critical needs.

Turtle Beach Reports Strong First Quarter 2021 Results And Raises Full-Year Outlook

Leading gaming accessory maker Turtle Beach Corporation (Nasdaq: HEAR), reported financial results for the first quarter ended March 31, 2021. "We turned in another stellar performance in the first quarter, with sales, gross margin, net income and adjusted EBITDA all reaching record high levels for the first quarter," said Juergen Stark, CEO, Turtle Beach. "Consumer demand for console headsets and PC gaming accessories remained at elevated levels, our category expansions are going well, and our operational excellence again allowed us to gain market share, leverage operating costs, and deliver better than expected results.

The strong secular trends that make gaming such a great category continue. According to NPD, U.S. retail sales of console headsets in the first quarter continued at record levels. During the quarter, the overall console market in the US rose 60% in dollars while our retail sales exceeded that growth. US sales of PC headsets, keyboards, and mice rose more than 90% and we more than doubled that reflecting the impact of our expanding line of PC accessories.

Seagate Technology Reports Fiscal Third Quarter 2021 Financial Results

Seagate Technology plc (NASDAQ: STX) (the "Company" or "Seagate"), a world leader in data storage infrastructure solutions, today reported financial results for its fiscal third quarter ended April 2, 2021. "Seagate delivered another quarter of strong financial performance driven by ongoing operational execution and record sales of our high capacity nearline drives. We grew revenue, expanded profitability and achieved non-GAAP EPS above our guided range. Our March quarter results underscore the strength of our HDD product portfolio and increasing demand for mass capacity storage," said Dave Mosley, Seagate's chief executive officer.

"These trends lend further support to our June outlook, including an anticipated return to solid year-over-year revenue growth in the June quarter and enhanced profitability. As the datasphere continues to grow in scale and complexity, our innovative technology, flexible product roadmap and mass data expertise make us well positioned to capture significant opportunities in our core HDD business and address customers' emerging needs to move, secure and store data across a more distributed enterprise."

Intel Reports First-Quarter 2021 Financial Results

Intel Corporation today reported first-quarter 2021 financial results. "Intel delivered strong first-quarter results driven by exceptional demand for our leadership products and outstanding execution by our team. The response to our new IDM 2.0 strategy has been extraordinary, our product roadmap is gaining momentum, and we're rapidly progressing our plans with re-invigorated focus on innovation and execution," said Pat Gelsinger, Intel CEO. "This is a pivotal year for Intel. We are setting our strategic foundation and investing to accelerate our trajectory and capitalize on the explosive growth in semiconductors that power our increasingly digital world."

First-quarter 2021 GAAP operating margin, net income, tax rate, and EPS results reflect the impact of a charge related to VLSI litigation. Intel strongly disagrees with the jury's verdict in March and intends to appeal. In the first quarter, the company generated $5.5 billion in cash from operations, paid dividends of $1.4 billion, and used $2.3 billion to repurchase stock.

Micron Technology Reports Results for the Second Quarter of Fiscal 2021

Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2021, which ended March 4, 2021. "Micron's strong fiscal second quarter performance reflects rapidly improving market conditions and continued solid execution," said Micron Technology President and CEO Sanjay Mehrotra. "Our technology leadership in both DRAM and NAND places Micron in an excellent position to capitalize on the secular demand driven by AI and 5G, and to deliver new levels of user experience and innovation across the data center and intelligent edge."

NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2021

NVIDIA today reported record revenue for the fourth quarter ended January 31, 2021, of $5.00 billion, up 61 percent from $3.11 billion a year earlier, and up 6 percent from $4.73 billion in the previous quarter. The company's Gaming and Data Center platforms achieved record revenue for the quarter and year.

GAAP earnings per diluted share for the quarter were a record $2.31, up 51 percent from $1.53 a year ago, and up 9 percent from $2.12 in the previous quarter. Non-GAAP earnings per diluted share were $3.10, up 64 percent from $1.89 a year earlier, and up 7 percent from $2.91 in the previous quarter. For fiscal 2021, revenue was a record $16.68 billion, up 53 percent from $10.92 billion a year earlier. GAAP earnings per diluted share were a record $6.90, up 53 percent from $4.52 a year earlier. Non-GAAP earnings per diluted share were $10.00, up 73 percent from $5.79 a year earlier.

Gartner Says Worldwide Smartphone Sales Declined 5% in Fourth Quarter of 2020

Global sales of smartphones to end users declined 5.4% in the fourth quarter of 2020, according to Gartner, Inc. Smartphone sales declined 12.5% in full year 2020.

"The sales of more 5G smartphones and lower-to-mid-tier smartphones minimized the market decline in the fourth quarter of 2020," said Anshul Gupta, senior research director at Gartner. "Even as consumers remained cautious in their spending and held off on some discretionary purchases, 5G smartphones and pro-camera features encouraged some end users to purchase new smartphones or upgrade their current smartphones in the quarter."

Apple Reports First Quarter Results

Apple today announced financial results for its fiscal 2021 first quarter ended December 26, 2020. The Company posted all-time record revenue of $111.4 billion, up 21 percent year over year, and quarterly earnings per diluted share of $1.68, up 35 percent. International sales accounted for 64 percent of the quarter's revenue.

"This quarter for Apple wouldn't have been possible without the tireless and innovative work of every Apple team member worldwide," said Tim Cook, Apple's CEO. "We're gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we're a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States."

AMD Reports Fourth Quarter and Full Year 2020 Financial Results

AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2020 of $3.24 billion, operating income of $570 million, net income of $1.78 billion and diluted earnings per share of $1.45. Fourth quarter net income included an income tax benefit of $1.30 billion associated with a valuation allowance release, which contributed $1.06 to EPS. On a non-GAAP(*) basis, operating income was $663 million, net income was $636 million and diluted earnings per share was $0.52.

For full year 2020, the company reported revenue of $9.76 billion, operating income of $1.37 billion, net income of $2.49 billion and diluted earnings per share of $2.06. Full year results included a fourth quarter income tax benefit of $1.30 billion associated with a valuation allowance release, which contributed $1.07 to annual EPS. On a non-GAAP(*) basis, operating income was $1.66 billion, net income was $1.58 billion and diluted earnings per share was $1.29.

Micron Technology Reports Results for the First Quarter of Fiscal 2021

Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2021, which ended Dec. 3, 2020. "Micron delivered outstanding fiscal first quarter results, driven by focused execution and strong end-market demand," said Micron Technology President and CEO Sanjay Mehrotra. "We are excited about the strengthening DRAM industry fundamentals. For the first time in our history, Micron is simultaneously leading on DRAM and NAND technologies, and we are in an excellent position to benefit from accelerating digital transformation of the global economy fueled by AI, 5G, cloud, and the intelligent edge."

SK hynix Inc. Reports Third Quarter 2020 Results

SK hynix Inc. today announced financial results for its third quarter 2020 ended on September 30, 2020. The consolidated revenue of third quarter 2020 was 8.129 trillion won while the operating profit amounted to 1.3 trillion won, and the net income 1.078 trillion won. Operating margin for the quarter was 16% and net margin was 13%.

Despite the Company saw the recovery of mobile DRAM demand in the quarter, both the revenue and operating profit decreased by 6% and 33% quarter-over-quarter (QoQ) respectively, as the server DRAM and SSD demands weakened, and the overall semiconductor memory price flow turned downwards in the quarter. For DRAM, SK hynix proactively responded to rising demands of mobile and graphics DRAM, and the expansion of consumer electronics DRAM demand as well. As a result, in spite of decreased server DRAM demand, the Company's DRAM bit shipment in the quarter still increased by 4% QoQ. However, due to the unfavorable price of server DRAM and other certain DRAM products, the average selling price decreased by 7% QoQ.

Lenovo Delivers Record Results, Fueled by Strong Q2 Growth

Lenovo Group (HKSE: 992) (PINK SHEETS: LNVGY) today announced record Group revenue in the second quarter of US$14.5 billion, up 7% year-on-year and with all businesses showing strong growth. Profit showed even stronger growth, with record pre-tax income of US$470 million, up 52% compared to the same quarter a year earlier, while net income also increased by 53% year-on-year to a record US$310 million. In addition to record quarterly results, Lenovo's financial strength and sustainability has been further validated recently with strong inaugural investment grade ratings from Moody's, Standard & Poor's and Fitch, and a successful global notes offering. Basic earnings per share for the second quarter were 2.59 US cents or 20.08 HK cents. Lenovo's Board of Directors declared an interim dividend of 6.6 HK cents per share.

"Our record results this quarter reflect our ongoing commitment to meeting the needs of the rapidly growing work-, learn-and play-from-home economy. All of our core businesses delivered year-on-year growth, while our Software and Services revenue grew to a new record," said Yuanqing Yang, Lenovo Chairman and CEO. "As the world continues to adjust to the "new normal," we are confident in the long-term growth potential of both devices and cloud infrastructure. We will continue to leverage our core competences of operational excellence and global/local footprint, while accelerating our service-led transformation to better grasp opportunities and drive sustainable growth."
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