Raspberry Pi’s robust first half sends share value up 7%

Raspberry Pi, the British pc firm that floated in June, reported on Tuesday stronger-than-expected adjusted earnings of $20.9 million for the primary half, sending its shares up 7% in early commerce.

The group, which produces low-cost single-board computer systems and microcontrollers, stated it bought marginally fewer units than it anticipated, however gross sales had been skewed in direction of increased margin merchandise, boosting profitability.

Its flagship Raspberry Pi5,which retails for 46.60 kilos ($62.24) for the 2GB mannequin, bought 1.1 million items within the six months to the top of June, it stated.

It stated it anticipated volumes to extend within the second half, supported by product launches, however the combine would end in margins returning to decrease ranges and it stored its expectations for the 12 months unchanged.

Chief Govt Eben Upton stated the IPO, two weeks earlier than the interval ended, was a “watershed second”.

“We noticed robust uptake of our newest flagship SBC, Raspberry Pi5, the launch of the Raspberry Pi AI Package, and the profitable ramp to manufacturing of RP2350, our second-generation microcontroller platform,” he stated.

Shares in Raspberry Pi had been buying and selling at 364 pence in early commerce, 30% increased than the 280 pence itemizing value.