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HTC profit plummets 58% in Q2

HTC on Friday reported disappointing unaudited second-quarter earnings that showed a huge drop in profit as the struggling smartphone maker’s woes continue. The Taiwan-based vendor said it earned approximately NT$8.90 per share in the second quarter for a total profit of NT$7.4 billion, down 57.8% from NT$17.52 billion in the second quarter of 2011, on NT$91 billion in sales. HTC beat revenue estimates in the second quarter last year when it managed sales totaling NT$124.4 billion. HTC cited customs issues and slower than expected sales with its disappointing performance. The company’s brief earnings statement follows below.


Taoyuan, Taiwan – July 6, 2012 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today announces unaudited consolidated results for 2Q 2012. For the second quarter of 2012, total revenues reached NT$91.0 billion. Unaudited operating income was NT$8.2 billion, net income before tax was NT$8.9 billion, net income after tax, excluding minority interest, was NT$7.4 billion, and unaudited earnings per share after tax were NT$8.90 based on 831,227 thousand weighted average number of shares.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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