MediaTek Inc. announced its financial results for the first quarter ended March 31, 2018. Revenues for the Q1 2018 were NT$49.6 billion ($1.67 billion), down 11.5%, compared to NT$56.08 billion ($1.89 billion) in Q1 2017. Net income of the company in Q1 2018 was NT$2.6 billion ($88 million), a decrease of 59.9%, compared to NT$6.6 billion ($220 million). In this quarter, EPS was negatively impacted due to the one-off gains on disposal of investments, compared to the same period last year and EPS reached to NT$1.69 from NT$4.29, down 2.6%.
The company said that the decrease in revenues on year-over-year basis was mainly due to weak demand in smartphone market, offsetting strong growth from IoT and ASIC products.
