Wednesday, August 4, 2010

Acer 2Q net up over 50%; meets forecast

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 NT$3.6 billion (RM358.7 million) for April-June, compared with NT$2.3 billion in the same period a year earlier, the company said in a brief statement on Wednesday, Aug 4 without giving an explanation.

In the six months to June, unaudited net profit was NT$6.9 billion, versus NT$4.4 billion a year earlier, while operating income totalled NT$8.5 billion in January-June, up from NT$5.6 billion a year earlier, it said.

Analysts had expected Acer to earn NT$3.4 billion in the second quarter, according to Thomson Reuters I/B/E/S.

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. ' Reuters

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