Although the company's AI hardware only came to market three months ago, Raspberry Pi’s CEO Eben Upton said, “We’ve seen very, very robust demand for this product.”

Raspberry Pi reports stronger-than-expected profits and a 61% sales increase in its first update since floating on the London Stock Exchange. The microcomputer maker's shares surged as it eyes further growth with new AI and cloud products.

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.

Shares in the Cambridge-based computer business - which floated in June at 280p each to much fanfare - surged 6.6%, or 23p, to 371.2p..

The newly public Raspberry Pi Holdings reported its first financial results, easily beating expectations and delighting investors.

Raspberry Pi has better than expected interim financial results for H1 2024, despite volumes being lower than expected.