Raspberry Pi 2 Model B single board computer.
Ollie Curtis | Future Publishing | Future | Getty Images
Raspberry Pi, the British computer company that went public in June, reported stronger-than-expected adjusted earnings of $20.9 million in the first half on Tuesday, sending its shares up 7% in early trading.
The group, which makes low-cost single-board computers and microcontrollers, said it sold slightly fewer machines than it had expected, but sales were skewed toward higher-margin products, boosting profitability.
The company said its flagship Raspberry Pi5, which retails for £46.60 ($62.24) for the 2GB model, sold 1.1 million units in the six months to the end of June.
The company said it expects volumes to increase in the second half, supported by product launches, but that combination would lead to margins returning to lower levels, and left its full-year outlook unchanged.
Chief Executive Eben Upton said the IPO, two weeks before the end of the period, was a “watershed moment.”
“We have seen strong demand for our latest flagship SBC product, the Raspberry Pi5, the launch of the Raspberry Pi AI Kit, and the successful production of the RP2350, our second generation microcontroller platform,” he said.
Raspberry Pi shares were trading at 364p in early trading, 30% above their listing price of 280p.
