Acer Posts Lowest Profit in 6 Years as Notebook Sales Slow

Acer Inc. posted its smallest quarterly profit in more than six years after slowing demand for low-cost notebooks caused sales to miss estimates and prompted its president to quit last month.

First-quarter net income at the world’s second-largest supplier of notebook computers declined 64 percent to NT$1.2 billion, from NT$3.29 billion a year earlier, according to Bloomberg calculations based on a statement from the Taipei-based company today. The average of nine analysts’ estimates made in the last 28 days was for net income of NT$1.74 billion, according to Bloomberg data.