Raspberry Pi Reports Strong H1 2024 Earnings with 61% Revenue Increase, Stock Rises

Sep 24, 2024, 08:12 AM

British microcomputer maker Raspberry Pi reported stronger-than-expected profits in the first half of 2024, marking its first earnings report since debuting on the London Stock Exchange in June. The company announced that its H1 2024 revenue increased by 61% year-over-year to $144 million, with gross profit up 47% year-over-year to $34.2 million. Additionally, unit volume rose by 31% year-over-year to 3.66 million units. Raspberry Pi stated it was 'more profitable than expected.' Following the announcement, Raspberry Pi's stock price jumped over 5% in pre-market trading.