Asustek’s 3Q Results Largely in Line, Maintaining Our FVE at TWD 304
No-moat Asustek’s third-quarter results were largely in line with our expectations, with revenue down 3%, operating profit down 30%, and net profit down 2.4% from the year-ago quarter, respectively. While the PC and component segments showed signs of recovery in the third quarter, the mobile business remained sluggish. The firm’s gross margin improved from a better product mix, but its operating margin deteriorated due to increasing advertising and marketing expenses for the new product launches...Asustek Computer is engaged in the production, design and sale of notebook PCs, main boards, CD-ROMs and add-on cards. Co.'s product lines include desktop and server, 3D AutoCAD, advanced sound blaster, NB, EeePC computer and Eee series Eee Pc, intelligent navigation phone, LED display, broadband and communication products, and advanced server.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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