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).
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- Alchip Q2’24 Revenue Breakdown by Process Node