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Acer posts Q3 profit, in line with market estimates

Acer posts Q3 profit, in line with market estimates
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First Published: Fri, Oct 30 2009. 11 42 AM IST
Updated: Fri, Oct 30 2009. 11 42 AM IST
Taipei: Acer, the world’s No.2 PC brand, posted a quarterly profit roughly in line with market estimates, indicating the company could be sacrificing profitability to increase its market share.
Acer’s results follow better-than-expected earnings from top technology bellwethers such as Microsoft, Intel and IBM, underscoring a sector recovery and raising hopes for strong sales in the pre-Christmas shopping season.
Acer did not provide any outlook, but its chairman told Reuters this month that the company expected revenue to grow by 70% within three years, with much of the growth to come from low-cost netbook PCs.
The company reported a net profit of T$3.47 billion ($107 million) for July-September, in line with market expectations for T$3.42 billion, according to a poll of 15 analysts surveyed by Thomson Reuters.
The result also met its own expectations for a T$3.45 billion net profit, but was higher than the T$3.04 billion recorded a year earlier.
Shares of Acer, Taiwan’s best known brand, rose 2.23% on Friday, beating the 0.21% slide on the benchmark TAIEX share index.
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First Published: Fri, Oct 30 2009. 11 42 AM IST
More Topics: Company Results | Acer | Intel | Microsoft | IBM |