HTC returns to profit in Q2 as steep climb begins
Thanks in part to sales of its flagship HTC One (M8) smartphone, HTC has delivered on its promise and returned to profit in the second quarter. The struggling handset maker on Thursday reported preliminary unaudited financial results for the June quarter, noting a narrow $75 million profit on revenue totalling just under $2.2 billion. The good news is that the company finally managed to return to a profit, but the bad news is that revenue is still sliding. In other words, sales are still sputtering but HTC’s recent cost-cutting measures have had a clear impact.
HTC’s brief news release follows below.
HTC RELEASES UNAUDITED RESULTS FOR 2Q 2014
Taoyuan, Taiwan – July 3, 2014 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today reported unaudited consolidated results for its fiscal 2014 second quarter ended June 30, 2014. Unaudited quarterly revenue was NT$65.06 billion and net profit before tax was NT$2.76 billion. Operating profit was NT$2.43 billion, and net profit after tax was NT$2.26 billion, or NT$2.74 per share based on 823,438 thousand weighted average number of shares.
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