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HTC Posts 79% Drop in Third-Quarter Profits
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Taiwan's HTC has posted another quarterly drop in revenues as the company again missed analyst expectations.
For the third quarter of 2012, total revenues were NT$70.2 billion (US$2.4 billion), down sharply on the NT$135.8 billion ($4.5billion) last year. The company had expected revenues to come in at the region of NT$70-80 billion, so barely avoiding missing its own financial forecasts.
Analysts had predicted revenues would be at the upper end of the earlier predicted range.
Unaudited net income after tax also fell, by 79% to NT$3.9 billion (US$133 million), also missing average analyst forecasts of NT$4.4 billion.
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