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HTC discloses first-ever quarterly loss - Daily News Egypt

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HTC discloses first-ever quarterly loss

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.

Topics: HTC smartphone

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http://www.dailynewsegypt.com/2013/11/06/htc-discloses-first-ever-quarterly-loss/
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