Raspberry Pi 2 Model B single board computer.
Olly Curtis Future Issue | future | Getty Images
Raspberry Pi, the British computer company that floated in June, reported on Tuesday stronger-than-expected earnings of $20.9 million for the first half, sending shares up 7% in early trade.
The group, which produces low-cost single-board computers and microcontrollers, said it sold fewer devices than expected, but that sales were skewed toward higher-margin products, boosting profits.
The flagship Raspberry Pi5, which costs 46.60 pounds ($62.24) for the 2GB model, sold 1.1 million units in the six months to the end of June, he said.
It said volumes are expected to increase in the second half, supported by product launches, but the mix will bring profits back to lower levels and keep expectations for the year unchanged.
Chief Executive Eben Upton said the IPO, two weeks before the period ended, was a “watershed moment”.
“We saw strong uptake of our latest flagship SBC, the Raspberry Pi5, the launch of the Raspberry Pi AI Kit, and a successful ramp to production of the RP2350, our second-generation microcontroller platform,” he said.
Shares in Raspberry Pi traded at 364 pence in early trade, 30% higher than the listing price of 280 pence.
