HTC loses more money in Q1

HTC logoHTC has posted its financial report for the three months ending on March 31 and it shows the company is still going through a rough patch. Just as the earnings guidance suggested revenue missed on its $1.12-1.18 billion target and reached just $1.10 billion. That’s down from $1.4 billion for the first quarter of 2013.

Net loss stood at $62 million – rather disappointing compared to the $2.5million in profit the company made for the same period of last year. And while this marks yet another quarter where HTC kept bleeding money, the Q2 outlook is very promising.

The second quarter of the year will see the effect of the market launches of HTC’s two key smartphones, the One (M8) and the Desire 816, which should help the company return to the profitable ways.

According to the predictions the revenue will be in the $2.160 billion - $2.326 billion range, or roughly double what HTC made now.The overall result is also expected to be a profit rather than a loss. The guidance suggests between $60 and $81.5 million of net profit, which while not huge is still great news for both shareholders and fans.

For more numbers from HTC’s Q1 report check out the source link.

Source: GSMArena

Tags: HTC, report

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