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HTC’s posts worst-ever earnings in Q1, but One to drive Q2 rebound

Updated Jun 21st, 2013 7:44AM EDT
HTC Q1 2013 Earnings

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HTC on Thursday posted its audited earnings results for the first quarter of 2013 and the were in line with the company’s pre-announcement from last month. HTC managed to pull in just $2.88 million in after-tax profit, down about 98% from the year-ago quarter, which had already seen profit drop 70% from Q1 2011. Revenue last quarter came in at $1.45 billion and operating margins fell to just 0.1%.

“This was a pivotal quarter for HTC,” HTC CEO Peter Chou said in a statement. “In February our teams set a new standard for smartphones, launching the new HTC One. The reviews of fans and critics alike have been overwhelmingly positive and we look forward to delivering on the promise of this device.”

HTC sees revenue jumping 63% in the second quarter to about $2.4 billion thanks to solid sales of the company’s new flagship smartphone, the HTC One. BGR recently reviewed the HTC One and called it the smartphone that changes everything.

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.