October 22, 2012 / 9:26 AM / in 5 years

Taiwan's Acer Q3 net below forecasts

TAIPEI, Oct 22 (Reuters) - Taiwan’s Acer Inc reported on Monday a net profit of T$68 million ($2.32 million) in the third quarter, up from the second quarter but far below forecasts.

A poll of 18 analysts by Thomson Reuters I/B/E/S yielded a mean estimate of a profit of T$756 million.

The company did not provide an explanation for the profit figure, but will hold a briefing on Thursday to give more details over the earnings and its outlook.

In the previous quarter it had also reported a profit far below forecasts, attributing that drop to a one-off tax issue.

The Q3 figure compares with a net profit of T$56 million in the second quarter and a net loss of T$$1.1 billion in the same quarter a year earlier.

Consolidated revenue in the third quarter was T$104.4 billion, down 5.6 percent compared to the second quarter but up 11.4 percent from a year ago.

In January to September, total revenue dropped 5.7 percent compared to a year ago.

$1 = 29.2505 Taiwan dollars Reporting by Clare Jim; Editing by Jonathan Standing

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