Taiwanese PC maker Acer Group published its performance results for the first quarter of 2014, stating that due to large cost reduction, the company achieved profit during the reporting period.

Acer said that in the first quarter of 2014, the company gained net profit of NTD1 million, which was about USD40,000. Prior to this, analysts predicted that the company would suffer net losses of NTD1.17 billion, or about USD39 million.

The company said in a statement that with effective inventory and cost control, its operating profit saw a recovery following three consecutive quarterly losses. Meanwhile, Acer reported operating revenue of NTD76.72 billion, which was about USD2.55 billion, in the first quarter of 2014, representing a year-on-year decrease of 16.6% and a decrease of 11.4% over the previous quarter. The financial report also showed that during the latest quarter, Acer's nearly 80% operating revenue was from the PC business, while its tablet business contributed only 4% of the total revenue.

Statistics provided by the market research firm Gartner showed that in the first quarter of 2014, Acer's share of the global PC market decrease from 8.4% in the same period of last year to 7.3%. Meanwhile, its four major competitors Lenovo, HP, Dell and Asus all saw market share increase.