The company said its revenue for Q2 2024 was $3.82 billion, down 16% from a year earlier. Net income was $1.13 billion and earnings per share were $1.22. It said revenue rose 4% from the previous quarter.

1. 01

   The company said its revenue for Q2 2024 was $3.82 billion, down 16% from a year earlier. Net income was $1.13 billion and earnings per share were $1.22. It said revenue rose 4% from the previous quarter.

2. 02

   The company said gross profit for Q2 was $2.21 billion, $699 million, down 24%. Gross profit margin fell to 57.8% from 64.2%. The company cited lower revenue and higher manufacturing unit costs tied to planned capacity expansions as factors.

3. 03

   The company said operating cash flow for the first six months of 2024 was $2.59 billion, an increase of $29 million. That figure included a cash benefit of $312 million from the U.S. CHIPS and Science Act investment tax credit. Capital expenditures for the same period were $2.31 billion.

4. 04

   The company said that as of June 30, 2024, it had $2.74 billion in cash and cash equivalents and $6.95 billion in short-term investments. Its credit facility was undrawn and it had no commercial paper outstanding. It also said it has sufficient resources to fund its needs for at least 12 months.

Key figures

Quarter ended June 30, 2024

Revenue

$3.8B

Operating income

$1.2B

Net income

$1.1B

EPS

$1.22

Gross profit

$2.2B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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.