Investors woke up to a sweet surprise from Raspberry Pi on Tuesday, as the computer maker’s first post-IPO report topped expectations. The British tech darling posted a 47 per cent rise in gross profit and a 56 per cent growth in adjusted earnings (EBITDA) for the first half of the year,

The company reported a gross profit of $34.2mn in the first six months of 2024, higher than internal forecasts and a 47 per cent increase on the same period in 2023. Revenue for the period was $144mn, up from $89.3mn last year. It kept its full-year outlook unchanged.

Cambridge based firm raised £178.9 million through its London flotation in June, one of only a handful in the first half of the year

The tech firm told shareholders that revenues jumped by 61% to 144 million US dollars (£107.9 million) over the six months to June.

Unit sales of the diminutive computers leaped to 3.66 million compared to 2.799 million in the same period last year. A chunk of the 31 percent increase was down to the 1.1 million unit sales of the Raspberry Pi 5 and growth in Compute Module sales. Raspberry Pi 4 unit sales declined, as did those of "legacy" boards.

The Raspberry Pi share price jumped after reporting earnings for the first time since its IPO. Dr James Fox explores whether this stock's worth buying.

Budget computer firm Raspberry Pi has revealed that profits were stronger than expected in its first update since floating on the London stock market earlier this year. Shares in the company, whose computers are made in Wales,