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Raspberry Pi’s strong first half of the year sees its share price rise by 7%
A Raspberry Pi 2 Model B single-board computer.
Olly Curtis | Future Publications | Future | Getty Images
Raspberry Pi, the British computing company that went public in June, reported stronger-than-expected adjusted earnings of $20.9 million for 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 marginally fewer devices than expected but sales were skewed toward higher-margin products, boosting profitability.
Its flagship Raspberry Pi5, which sells for £46.60 ($62.24) for the 2GB model, sold 1.1 million units in the six months to the end of June, it said.
It said it expected volumes to rise in the second half, supported by product launches, but the combination would result in margins returning to lower levels and kept its expectations for the year unchanged.
Chief Executive Eben Upton said the IPO, which came two weeks before the end of the period, was a “watershed moment.”
“We saw strong uptake of our latest flagship SBC, Raspberry Pi5, the launch of the Raspberry Pi AI Kit and the successful ramp-up of production of RP2350, our second-generation microcontroller platform,” he said.
Raspberry Pi shares were trading at 364 pence in early trading, up 30% from their previous listing price of 280 pence.
