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HTC’s Q2 profit plummets 83% despite HTC One debut

Published Jul 5th, 2013 8:15AM EDT
HTC Earnings Q2 2013

The flagship HTC One is easily one of the most impressive smartphones the world has ever seen, but it wasn’t enough to help HTC start on a path to recovery. The struggling smartphone vendor on Friday released earnings estimates for the second quarter that missed analysts’ consensus by a wide margin. HTC’s unaudited results show a profit that plummeted 83% to approximately $41.6 million last quarter, while revenue fell 22% to $2.4 billion. Analysts were looking for a $66.6 million profit for the second quarter. The results are an improvement over the worst-ever earnings HTC reported in the first quarter this year, but the launch of the HTC One did not have as munch of an impact as analysts were hoping for. HTC is expected to launch two new versions of the HTC One in the coming months, a smaller HTC One mini and an HTC One Max phablet. The company’s press release follows below.

HTC releases unaudited results for 2Q 2013

Taoyuan, Taiwan – July 5, 2013 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today announces unaudited consolidated results for 2Q 2013. For the second quarter of 2013, total revenues reached NT$70.7 billion. Unaudited operating income was NT$1.05 billion, net income before tax was NT$1.52 billion, net income after tax was NT$1.25 billion, and unaudited earnings per share after tax were NT$1.50 based on 831,227 thousand weighted average number of shares.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.