HTC closes out Q1 of 2014 with a substantial loss
Earning for the first quarter of 2014 are in, but things aren’t looking so hot for HTC. The company has reported $1 billion in revenue for the first quarter of 2014 with net losses after taxes reaching $62 million. This is the second time in the company’s history that HTC has reported a quarterly loss. While HTC’s Q1 $62 million loss isn’t anywhere close to the $101 million loss posted in Q3 of 2013, it shows that the company really needs the HTC one (M8) to be massive success. Though numbers for the entire quarter were down, HTC did see its revenue increase 2.16% in March breaking a 28 month trend of consecutive declines. It’s unclear how much those numbers were effected by the March 25th launch of the HTC One (M8). The phone was only available in select markets for the last week of the quarter, but HTC presumably collected payment for the initial supply of phones which shipped to service providers and retailers in Europe and North America.
Fortunately, HTC isn’t betting the fate of the company on a single phone. With the HTC Desire 816 and a handful of other mid-range phones set to hit the market this spring, HTC will guarantee that consumers with have multiple HTC devices to choose from if they aren’t so keen on buying the company’s flagship One. We’ve already seen reports which show strong demand of HTC’s mid-range lineup in China, so we’re eagerly awaiting to see how HTC’s revenue numbers will fare during the second quarter of 2014.
Taoyuan, Taiwan – April 7, 2014 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today reported unaudited consolidated results for its fiscal 2014 first quarter ended March 31, 2014. Unaudited quarterly revenue was NT$33.12 billion and net loss before tax was NT$1.88 billion. Operating loss was NT$2.05 billion, and net loss after tax was NT$1.88 billion, or -NT$2.28 per share based on 823,438 thousand weighted average number of shares.