Acer Q2 net up over 50%; meets forecast

Acer Q2 net up over 50%; meets forecast
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First Published: Wed, Aug 04 2010. 02 56 PM IST
Updated: Wed, Aug 04 2010. 02 56 PM IST
Taipei: Acer Inc, the world’s No.3 PC brand, said its second-quarter net profit rose 57%, largely in line with market expectations, amid rising demand for computers.
Acer booked an unaudited net profit of T$3.6 billion ($112 million) for April-June, compared with T$2.3 billion in the same period a year earlier, the company said in a brief statement on Wednesday without giving an explanation.
In the six months to June, unaudited net profit was T$6.9 billion, versus T$4.4 billion a year earlier, while operating income totalled T$8.5 billion in January-June, up from T$5.6 billion a year earlier, it said.
Analysts had expected Acer to earn T$3.4 billion in the second quarter, according to Thomson Reuters.
In a Monday report, Credit Suisse said it expected Acer’s sales to grow 15% in the third quarter from the second quarter, as it remains positive on Acer’s low-cost strategy and growth potential in China, despite recent slowdown in Europe.
The results came after the market closed. Acer shares ended down 1.6% against the broader TAIEX’s 0.2% gain.
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First Published: Wed, Aug 04 2010. 02 56 PM IST