clock menu more-arrow no yes

Filed under:

HTC confirms first quarterly loss in company's history

New, 198 comments
via <a href=""></a>

HTC has released its unaudited earnings for the first quarter of 2013, and the results confirm what the company itself predicted in July — it's losing money. The smartphone manufacturer made a net loss of NT$2.97 billion (about $101 million) on revenue of NT$47.05 billion (about $1.6 billion). Operating loss was NT$3.50 billion, or about $119 million.

HTC had earlier predicted revenues of between NT$50 and 60 billion for this quarter, a slip from analyst consensus and down on last year's NT$70.2 billion. It appears that sales of devices such as the HTC One over the past few months have failed to meet even the company's expectations, with revenue down 33 percent year-on-year. The loss is the first posted by HTC since it went public in 2002, and comes just as rival Samsung predicted record profits for the same quarter.