AI English summary of an SEC filing — figures as filed

The company said revenue for Q1 2024 (ended March 31) was $1.571 billion, up 2.0% from Q4 2023 and 16.3% from Q1 2023.

8-KResults of Operations and Financial ConditionFiled May 7, 2024Period of report May 3, 2024Summary published (UTC) Oct 20, 2026

Key points

AI summary

The company said revenue for Q1 2024 (ended March 31) was $1.571 billion, up 2.0% from Q4 2023 and 16.3% from Q1 2023.
The company said GAAP net income for Q1 2024 rose to $637.7 million ($1.99 per diluted share) from $436.5 million ($1.38 per share) in Q1 2023, and GAAP gross margin was 63.7% (59.5% a year earlier).
The company said its board approved a $1.2 billion stock repurchase program on May 3, 2024. It said the program will be funded from working capital, will expire in May 2027, and does not obligate the company to buy any of its common stock.
The company said it expects revenue for Q2 2024 of $1.62 billion to $1.65 billion, non-GAAP gross margin of approximately 64%, and non-GAAP operating margin of approximately 44%.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Q1 2024 Revenue $1.571 billion

The company said revenue for Q1 2024 (ended March 31) was $1.571 billion, up 2.0% from Q4 2023 and 16.3% from Q1 2023.

Source · Based on the filing body and exhibits

Q1 GAAP Net Income and Gross Margin

The company said GAAP net income for Q1 2024 rose to $637.7 million ($1.99 per diluted share) from $436.5 million ($1.38 per share) in Q1 2023, and GAAP gross margin was 63.7% (59.5% a year earlier).

Source · Based on the filing body and exhibits

$1.2 billion Stock Repurchase Program Approved

The company said its board approved a $1.2 billion stock repurchase program on May 3, 2024. It said the program will be funded from working capital, will expire in May 2027, and does not obligate the company to buy any of its common stock.

Source · Based on the filing body and exhibits

Q2 2024 Outlook

The company said it expects revenue for Q2 2024 of $1.62 billion to $1.65 billion, non-GAAP gross margin of approximately 64%, and non-GAAP operating margin of approximately 44%.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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