Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Raspberry Pi shares surge after strong first update since flotation

by September 25, 2024
September 25, 2024
Raspberry Pi shares surge after strong first update since flotation

Raspberry Pi, the UK-based maker of affordable microcomputers, has reported stronger-than-expected profits in its first financial update since going public on the London Stock Exchange in June.

The company, which raised £178.9 million through its initial public offering and joined the FTSE 250, saw year-on-year sales jump 61% to $144 million in the six months to June 30, while pre-tax profit remained steady at £10.8 million.

The company’s shares surged by more than 10% on Tuesday, settling up 6.6% at 371¼p. Raspberry Pi sold 1.1 million units of its latest model, the Raspberry Pi 5, launched in October 2023, contributing significantly to its first-half performance, which surpassed internal expectations.

Despite the recovery from pandemic-induced supply chain disruptions, Raspberry Pi continues to experience some challenges, particularly with semiconductor supply. CEO Eben Upton explained that lingering demand imbalances, caused by over-ordering during shortages, are slowly correcting.

Analysts at Jefferies noted that while the second half might be slightly weaker due to ongoing inventory corrections and lower-value product sales, the outlook for 2025 remains positive, with favourable memory pricing and higher sales expected.

Originally founded as a charity in 2008 to encourage more young people to study computer science, Raspberry Pi became a commercial success, with the Raspberry Pi Foundation retaining a 47% stake after the float. The company has expanded its offerings, including new products focused on AI hardware, in partnership with Hailo AI, and its first cloud product, Raspberry Pi Connect, which allows remote device access for $6 per year.

Read more:
Raspberry Pi shares surge after strong first update since flotation

0
FacebookTwitterGoogle +Pinterest
previous post
Royal jeweller cuts prices by 20% to counter impact of tourist tax
next post
Family firms accuse Labour of dishonesty over tax plans, warn of threat to British business

You may also like

UK government TV ad urges households to take...

December 27, 2022

How can employers support autistic people in the...

March 29, 2024

Property investment challenges in 2023

December 7, 2022

Thousands of Deliveroo and Uber Eats Drivers Set...

February 13, 2024

UK public borrowing lower than expected in August

September 21, 2023

Amazon retreats from plan to show cost of...

April 30, 2025

UK government announces £100m to support AI regulation

February 7, 2024

Queens Nephew warns of ‘material uncertainty’ over Quintessentially’s...

January 7, 2025

Untapped Benefits Of Retargeting In Search Marketing Campaigns

March 18, 2024

Business confidence plummets in June

June 30, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • MARK HALPERIN: Democrats try to construct a Frankenstein candidate while JD Vance gains momentum for 2028

      June 6, 2025
    • ‘Gone too far’: GOP lawmakers rally around Trump after Musk raises Epstein allegations

      June 6, 2025
    • Democrats begin to embrace Musk amid Trump spat after party railed against him as a ‘dictator’

      June 6, 2025
    • Trump administration defends US and Israeli sovereignty with new sanctions against four ICC judges

      June 5, 2025
    • Musk unleashes wild Epstein claim against Trump after being booted from DOGE

      June 5, 2025
    • Three Charts Showing Proper Moving Average Alignment

      June 5, 2025

    Categories

    • Business (8,149)
    • Investing (2,011)
    • Politics (15,543)
    • Stocks (3,129)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved