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Acer Q1 earnings rise on cost control

Acer Q1 earnings rise on cost control

Taipei, May 7 (CNA) Taiwan's Acer Inc. (??), the world's fourth-largest PC maker, reported a higher-than-expected net profit for the first quarter on Thursday, buoyed by effective expense control and inventory management. Although consolidated revenue dropped 11.4 percent year-on-year to NT$67.95 billion (US$2.16 billion) in the three months ending in March, gross profits increased 4.5 percent to NT$6.66 billion and operating income surged 139 percent to NT$304 million. First-quarter net income was NT$173 million, or NT$0.06 per share, compared with net income of NT$1 million, or NT$0.0004 per share, in the same period of last year. "The results reflect Acer's effective product mix strategy according to market needs, operating expense control and inventory management," the New Taipei-based company said in a statement. Acer shares edged down 1.76 percent at NT$19.55 Thursday on the Taiwan Stock Exchange before the earnings announcement. The weighted index fell 1.16 percent. (By Jeffrey Wu)


Updated : 2021-09-25 08:02 GMT+08:00