AUO makes a profit after eight quarters in the red

OVERFLOW EXPECTED: The LCD panel maker said it expects the uptrend to extend into this quarter and even into next year, as the stay-at-home economy continues

Taipei Times
Date: Oct 30, 2020
By: Lisa Wang / Staff reporter

Visitors walk by the AU Optronics Corp booth at the Touch Taiwan show at the Taipei Nangang Exhibition Center on Aug. 29 last year.
Photo: Chen Mei-ying, Taipei Times

LCD panel maker AU Optronics Corp (AUO, 友達光電) returned a profit in the third quarter — the first quarter in eight — as demand boosted by the COVID-19 pandemic drove shipments of large TVs and notebook computers.

The stay-at-home, work-from-home and distance-learning trends helped the Hsinchu-based company make NT$2.89 billion (US$99.95 million) in net profit last quarter, reversing a loss of NT$2.96 billion in the second quarter and a loss of NT$3.99 billion in the third quarter last year.

That translated into earnings per share of NT$0.3, versus minus-NT$0.31 a quarter earlier and minus-NT$0.41 a year earlier.

The firm expects the uptrend to extend into this quarter and even to “overflow” into the first half of next year, as a resurgence of the pandemic hits many countries, further supporting the stay-at-home economy.    [FULL  STORY]

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