Acer's Q1 net profit up 55 percent, but revenue down

Acer's revenue for the first quarter was down year-over-year by 19 percent

Acer said its net profit for the first quarter grew 55 percent year-over-year, but its revenue continued to decline amid struggling PC sales.

The Taiwanese PC maker's net profit reached NT$515 million (US$17.4 million), an increase from NT$331 million a year earlier, the company said on Tuesday. But the net profit came from a number of non-operating income items during the period, including "foreign exchange and stock disposal gains."

Revenue in the quarter was at NT$92 billion, down by 19 percent year-over-year from NT$113 billion.

Acer is trying to revive its product sales as demand for PCs remains sluggish. In the first quarter, worldwide PC shipments fell by 13.9 percent, according to research firm IDC. During that period, Acer saw a 31.3 percent year-over-year decline in its PC shipments.

But the company is banking on its upcoming tablets and convertible PCs to bring back revenue growth. Last week, the company unveiled some of those new products, including an Android tablet priced at $169 and two convertible PC notebooks.

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