Home
Loading...
You are here:  Home  >  Technology  >  Current Article

HTC discloses first-ever quarterly loss

  /   1 Comment   /   207 Views

The Smartphone Company forecasts a decline in Q4 revenue

The Taiwanese Smartphone company, HTC, announced a drop in its third quarter revenues to register $1.6bn, which is its first-ever quarterly loss. (AFP Photo)

The Taiwanese Smartphone company, HTC, announced a drop in its third quarter revenues to register $1.6bn, which is its first-ever quarterly loss.
(AFP Photo)

By Doaa Farid

The Taiwanese Smartphone company, HTC, announced a drop in its third quarter revenues to register $1.6bn, which is its first-ever quarterly loss.

Q3 revenue dipped below July expectations; it was expected to drop between $1.7bn and $2bn, with operating losses “[ranging from] 0% to 8%”.

Its second quarter profits slumped by 83% year on year. They announced profits of $40m, down from the first quarter by 22%.

According to a press release from HTC, the third quarter revenue is with a gross margin of 20.4% and an operating margin of -7.4%, while net loss is reported to be at $102m.

In the same period last year, HTC reported revenue of $2.4bn, which was a drop from $4.5bn for Q3 in 2011.

The company revealed on Tuesday that it also expects less revenue in quarter four, ranging from $1.4bn to $1.5bn.


You might also like...

Jumia’s shopping application has been downloaded over 100,000 times, the company said.

(Photo Courtesy of Google Play)

Jumia online shopping app Google Play store favourite

Read More →