HTC Posts a Second Quarterly Loss As December Sales Disappoint
Published on: 5th Jan 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Struggling smartphone manufacturer HTC has posted its second consecutive operating loss as the company saw a deep decline in sales during the usually critical December period.
Net profit rose to NT$310 million, but that was boosted by the one-off sale of its stake in Beats Electronics. The profits still came in at less than half the average of analyst expectations of nearly NT$700 million.
Revenues came in at about where HTC had predicted they would lie, at NT$42.9 billion, which was also in line with analyst expectations.
During the usual peak sales period of December, the company recorded a revenue decline of 42.4 percent as the release of new handsets failed to excite the consumer.
The results were released on Sunday afternoon, local time, outside the usual trading statement release times for a listed company.