Acer posts Q1 net profit of $17.4 million, beats estimates

acer-logo-designTAIPEI: Taiwan’s Acer, the world’s No. 4 PC vendor, returned to the black in the first quarter, reporting a better-than-expected net profit of T$515 million ($17.44 million).

Thirteen analysts polled by Thomson Reuters I/B/E/S had forecast a median profit of T$195.6 million for the quarter.

The figure also compares with a net loss of T$3.4 billion in the previous quarter, dragged by a T$3.5 billion right-off of trademark rights, and a net profit of T$331 million in the same period a year ago.

Acer attributed the net profit in the quarter to “a number of non-operating incomes, including foreign exchange and stock disposal gains”. The company will hold an investor conference on Wednesday at 0600 GMT.

Source-Times of india

Filed in: News

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