Acer Q4 loss worse than expected at $245 million

Reuters News
Posted: Jan 17, 2014 4:52 AM

TAIPEI (Reuters) - Taiwanese PC maker Acer Inc reported worse-than-expected quarterly loss on Friday as the company's weak position in a stagnating market continued to weigh on its prospects.

For the fourth quarter, the world's No.4 PC vendor reported a net loss of T$7.6 billion ($254 million), compared to expectations of a T$3.69 billion loss according to Thomson Reuters I/B/E/S.

The company had posted a worse-than-expected net loss of T$13.12 billion ($446 million) in the third quarter and a T$3.37 billion ($112.31 million) loss in the same quarter of 2012. It has reported losses or meager profit at best every quarter for more than two years.

As part of a turnaround strategy, in December the company named former Taiwan Semiconductor Manufacturing Co Ltd sales executive Jason Chen as its new CEO and launched a new initiative to integrate hardware, software and cloud services.

(Reporting by Michael Gold; Editing by Matt Driskill)