Acer suffers 17 percent revenue tumble in 1Q16

PC heavyweight Acer has reported consistent drops in revenue, profit after tax, and operating expenses for the first quarter of the 2016 financial year.

Acer has posted revenue of NT$56.3 billion for the first quarter of the 2016 financial year, a 17.1 percent tumble from NT$67.9 billion recorded during the corresponding period last year.

The PC heavyweight also reported profit after tax slumped 73.4 percent year on year from NT$173 million to NT$46 million, and reduced operating expenses to NT$5.9 billion.

The company's IT product revenue, which came in at NT$53.3 billion, down year on year from NT$68.9 billion, was affected by a reduction in revenue contribution from America, but this was offset by the increase in IT product revenue from Asia Pacific and EMEA.

Specifically, PCs still made up a majority of total IT hardware revenue, followed by desktop PC at 18 percent, and then displays at 15 percent. Meanwhile, tablet and smartphones still only made up a small fraction.

The company also indicated it was still recovering from the operating income loss of NT$704 million reported in 3Q15. This quarter operating income came in at NT$866 million.

During CES earlier this year, the company released a slew of PC products, including a desktop and laptop, as it continued to deepen its commitment to Google Chrome's operating system.