HTC Q1 Losses Climb to $62 Million, but March Revenue Improves

We may earn a commission when you click links to retailers and purchase goods. More info.

HTC posted its Q1 2014 financials today, and they are decidedly mixed. The company’s profits were less than investors expected, but one-month revenue rose incrementally after 28 consecutive months of declines.

The company’s first-quarter loss was NT$1.88 billion, which amounts to $62 million. That is worse than the Bloomberg-compiled analyst estimate of NT$1.59 billion loss and HTC’s own Feb. 10 forecast of NT$860 million. Revenue for the quarter fell to NT$33.1, down from $NT42.8 billion last year. 

However, HTC reported that March revenue was up 2.16% year-over-year.

A few investors are wary that the critically well-received HTC One (M8) won’t be able to maintain selling momentum in the face of Samsung’s Galaxy S5, but Chief Financial Officer Chang Chialin said that a focus on mid-range devices this year would help to buoy profitability.

As for our opinion, if the company plans to remain afloat on mid-range devices, 2014 could be quite a long financial year for the Taiwan-based OEM. Although, the Moto G, Motorola’s budget-friendly smartphone, is reportedly its most successful device ever. Maybe HTC can pull something off, too.

Via: HTC [2] | Bloomberg



Collapse Show Comments