Raspberry Pi Reports Strong First-Half Earnings #

A British computer company specializing in low-cost single-board computers and microcontrollers reported stronger-than-expected adjusted earnings of $20.9 million for the first half, resulting in a 7% increase in share price during early trading.

The company sold slightly fewer devices than anticipated, but sales were concentrated on higher-margin products, which boosted profitability. Their flagship product, retailing at £46.60 ($62.24) for the 2GB model, sold 1.1 million units in the six months to the end of June.

The company expects volumes to increase in the second half, supported by product launches. However, they anticipate that the product mix will result in margins returning to lower levels. As a result, their expectations for the year remain unchanged.

The company’s recent initial public offering (IPO) was described as a ‘watershed moment’ by leadership. They highlighted strong uptake of their latest flagship single-board computer, the launch of an AI Kit, and the successful production ramp-up of their second-generation microcontroller platform.

In early trading, the company’s shares were priced at 364 pence, representing a 30% increase from the 280 pence listing price at the time of the IPO.