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HTC Q1 profit triples on demand for Android phones

Updated Dec 19th, 2018 7:10PM EST

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HTC on Friday reported first-quarter 2011 earnings highlighted by profit that handily beat analysts’ estimates. Tremendous demand for the company’s popular Android smartphones such as the EVO 4G and ThunderBolt helped HTC record a first-quarter profit of NT$14.83 billion ($511 million) compared to analyst expectations of NT$12.99 billion. HTC said its first-quarter revenue grew 174% to NT$104.2 billion, and analysts believe continued strong demand for Android devices will help HTC’s revenue grow up to 20% in the second quarter of this year. BGR on Thursday reported that HTC’s market capitalization, which recently surpassed that of Finnish phone giant Nokia, is expected to surpass NT$1 trillion this year, making HTC only the third company on the Taiwan Stock Exchange to reach the milestone. Share of HTC stock closed down 3.33% on Friday.

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.