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AUO 2Q16 results +2
08:34 27-Jul-16
AU Optronics has reported its financial results for the second quarter of 2016:
- break-even earnings beat by 2 cents
- on revenue of $2.5b, which is in-line
These calculations were done at a currency conversion rate of
.031 U.S. to New Taiwan dollars to make them applicable to the
ADR. AU quarterly reports don't wind up mattering much as the
company already reports sales on a monthly basis. So, normally I
don't have anything to say on them, but this report marks a return
to operational profitability.
Management comments indicate that trend is expected to continue,
but I'd guess that my theory on Apple collaboration would have to
pan out in order to drive shares meaningfully higher in the near
term. I think the ADRs are still a value, and thus I don't see
much direct risk, but many of you seem concerned about the broader
market. AU Optronics is a small, foreign company and the ADRs of
such companies do tend to remain bargains in the absence of
something dramatic. Those who don't want to hold speculative
investments over the long term might consider taking profits.