HTC finances improve over last quarter, but show just $41.6 million profit in Q2 2013

Though HTC has fallen shy of the $65 million in earnings investors were looking for in Q2 2013, at least it's a marked improvement over last quarter's disaster. It managed to improve profits to $41.6 million from a mere $2.8 million last quarter, based on unaudited figures. Likely reflecting demand for the flagship One and HTC's ability to finally produce that handset in significant numbers, revenue also jumped to $2.4 billion -- that's bad in the sense that it's a 20 percent drop relative to the same quarter last year, but it's slightly better than the 33 percent year-on-year revenue shortfall we witnessed last quarter. Overall, these figures still pale in comparison to HTC's historical performance and there's no immediate prospect of things getting better. According to Reuters, the most serious problems occurred towards the end of the quarter, as sales for June swooned 26.4 percent versus Q2 2012 -- a trend that puts a lot of pressure on the little shoulders of the HTC One Mini.

Filed under: Cellphones, HTC

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Source: Reuters

Source: http://www.engadget.com/2013/07/05/htc-misses-estimates-but-picks-up-the-pace-with-for-q2-with-1/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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