Click to Skip Ad
Closing in...

HTC returns to profit in Q2 as steep climb begins

HTC Earnings Q2 2014

Thanks in part to sales of its flagship HTC One (M8) smartphone, HTC has delivered on its promise and returned to profit in the second quarter. The struggling handset maker on Thursday reported preliminary unaudited financial results for the June quarter, noting a narrow $75 million profit on revenue totalling just under $2.2 billion. The good news is that the company finally managed to return to a profit, but the bad news is that revenue is still sliding. In other words, sales are still sputtering but HTC’s recent cost-cutting measures have had a clear impact.

HTC’s brief news release follows below.

HTC RELEASES UNAUDITED RESULTS FOR 2Q 2014

Taoyuan, Taiwan – July 3, 2014 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today reported unaudited consolidated results for its fiscal 2014 second quarter ended June 30, 2014. Unaudited quarterly revenue was NT$65.06 billion and net profit before tax was NT$2.76 billion. Operating profit was NT$2.43 billion, and net profit after tax was NT$2.26 billion, or NT$2.74 per share based on 823,438 thousand weighted average number of shares.

SEE ALSO: HTC One (M8) review: The smartphone that changes everything… again

Zach Epstein

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.