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HTC slump continues in Q4; guidance misses Q1 estimates

HTC on Monday reported earnings for the fourth quarter last year along with guidance for the first quarter that missed analysts’ estimates. Further highlighting the slump that began in October with the launch of Apple’s iPhone 4S, the Taiwan-based vendor posted fourth-quarter revenue of NT$101.42 billion, or approximately $3.5 billion USD, down 2.5% compared to the same quarter in 2010. Gross profit slid nearly 12% in the fourth quarter to NT$27.5 billion, and HTC’s total assets on hand at the end of the year slid more than 33% to NT$254.59 billion. In the first quarter of 2012, the vendor expects the rough patch to continue ahead of new product launches due later in the first half. HTC said first-quarter sales will likely fall between NT$65 billion and NT$70 billion while Wall Street expected guidance of approximately NT$85 billion.

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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.