Preliminary Q1 Results From Acer
In the preliminary consolidated revenue report from Acer, the company generated a strong $2.15 billion. Compared to the same quarter in 2020, this is a massive leap forward in business, with Acer growing by 46.5%. While this can partially be attributed to a drop in total sales at the onset of the COVID-19 pandemic, the strong growth in revenue over the first three months of 2021 is encouraging for the business’s outlook moving forward.
The solid figure for the quarter is backed comfortably from the sales tallied in March, where the company nearly reported half of its total revenue in the quarter at $974 million. In comparison to March of 2020, this represents a 15.3% growth in its business sales. What is more promising for the company is the month-over-month growth of 35.6%. This increase bodes well for the business if similar trends continue throughout the year, especially as economic conditions improve globally with vaccination efforts allowing for reopenings and recovery.
Breakdown by Product and Stock Prices
Alongside the raw revenue numbers provided by Acer, there was also a breakdown in the company’s area of growth by each portion of the business. The biggest success story of Q1 came from Acer Chromebooks. In fact, year-over-year growth for Chromebook laptops sits at a whopping 141.1%.
Another area of business that saw significant growth was the line of Acer gaming products, seeing an 87.6% bump from the same time period in 2020. Commercial notebooks saw an identical year-over-year growth of 87.6%. Monitor sales from the company also grew from the Q1 numbers in 2020, albeit by much less than other areas of business at just 41.8%.
The major takeaways from the growth figures reported by Acer continue to be the massive reliance on technology during the pandemic. With laptops and other electronics becoming necessary in the workforce and for school, people turned to Acer as a company worth fulfilling the renewed demand.
Another major trend to emerge was the popularity of gaming in 2020 and 2021. While employees will eventually return to the office and students to the classroom, interest in gaming, even from those who began seriously playing in 2020, will continue to remain high.
In fact, the global online gaming market is expected to grow to a staggering $2.2 trillion by the end of 2021. With most of that growth set to take place in Acer’s two largest regions: Asia-Pacific and North America, the company looked poised to maintain high revenues across its line of gaming products.
Acer is near a five-year high on its current stock value, sitting comfortably above $32 a share. The significant growth experienced by the company in Q1 should help push that value even further.
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.