TapTechNews July 31st news, MediaTek today announced its financial report for the second quarter of 2024. The consolidated revenue reached 127.271 billion New Taiwan dollars (TapTechNews note: currently about 4.3486 billion US dollars), with a 4.63% quarter-on-quarter decrease and a 29.68% year-on-year increase.
The consolidated gross profit margin in the second quarter was 48.8%, a decrease of 3.6 percentage points from the previous quarter and an increase of 1.3 percentage points from the same period last year.
The net profit was 25.955 billion New Taiwan dollars (currently about 4.037 billion US dollars), a 18% decrease from the previous quarter and a 62% increase from the same period last year.
In the second quarter of 2024, MediaTek's inventory level recovered and prepared for the third quarter's shipping momentum. MediaTek pointed out that as of the end of the second quarter, the net inventory amount was 53.57 billion New Taiwan dollars (currently about 8.44 billion US dollars); the inventory turnover days were 72 days, higher than 66 days in the previous quarter but lower than 115 days in the same period last year.