HTC’s Q2 profits surge 1,385 percent – still shy of market expectations
For the first time in nearly a year, HTC’s quarterly revenue report has some good news. Profits from the quarter skyrocketed from $2.8 million in Q1 to $41.63 million, proving to investors and consumers that the HTC isn’t quite ready to give up. The 1,385 percent increase in profits is sure to help HTC’s bottom line, but it is significantly lower than the $65 million analysts has projected for the quarter. Total revenue for the second quarter came in on target at NT$70 billion ($2.4 billion USD).
HTC’s numbers still fall short when compared to Q2 of last year and sales of the HTC appear to be slowing. Monthly sales from May to June decreased 24 percent to NT$22bn, signaling that demand for HTC’s flagship device may have already peaked. Demand for the HTC One could see a resurgence in the firth quarter once the device is made available to the 100 million customers on Verizon later this summer. We also expect HTC to look to the HTC One mini and HTC One Max to increase revenue and profits in the third quarter.