HTC financial results fail to deliver

 HTC financial results fail to deliver

HTC has posted its financial results for the first quarter of this year, disappointing investors and analysts, who expected substantially better figures.

HTC has posted its financial results for the first quarter of this year, disappointing investors and analysts, who expected substantially better figures.

 
Revenue was NT$42.8 billion, much less than the NT$50-60 billion the company forecast only two months ago.
 
Unaudited operating income was $NT43 million. Net income before tax was NT$103 million. After tax that dropped to NT$85 million. When compared with the NT$1 billion it brought in the fourth quarter of 2012 and the NT$10.9 billion it brought in during the first quarter of last year, the results are very dismal.
 
 HTC financial results fail to deliver
 
Unaudited earnings per share after tax were a meagre NT$0.10, based on 831,227 thousand weighted average number of shares.
 
A large part of the poor performance was blamed on the delayed launch of the HTC One, which so far has only launched in three of the planned 80 markets, thanks to a shortage of camera modules. As the new flagship model hits the stores it should help restore some profit to the company, but it faces tough competition from Apple and Samsung, both of which have stronger brands.
 
At the time of writing, HTC shares were down $5.50, or 2.23 percent, to $241.