Printed from http://www.electronista.com

Acer quarterly net profit misses estimates by wide margin

updated 09:39 am EDT, Mon October 22, 2012

Lower profit suggested due to Forex, tax rates

Acer has released its third quarter financial results, with its quarterly net profit of NT$68 million ($2.3 million) below that of a number of estimates. Reasons for the lackluster earnings were not forthcoming from the company, though it was noted that the profit is higher than the NT$56 million ($1.9 million) reached in the second quarter, and better than the net loss of NT$1.1 billion ($37 million) endured in Q3 2011.

A poll of 18 analysts by Reuters suggested an average net profit figure of NT$756 million ($26 million). Reasons ranging from a Forex loss of over NT$100 million ($3.4 million), a 34-percent tax rate, and a continued struggle to sell PCs in a market that is leaning towards buying tablets instead.

Consolidated revenues for the quarter were NT$104.4 billion, a drop of 5.6 percent from last quarter, but an increase of 11.4 percent compared to last year. Shares dropped 0.92 percent before the results were announced. The company will reveal more details on its earnings and an outlook to the coming months on Thursday.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News