HTC Sees 55% Increase In Q2 Revenue

Posted on Apr 24 2012 - 9:12am by Editorial Staff

Reuters reports that the Taiwanese smartphone maker HTC will see a 55 percent jump in revenue in the second quarter from the previous three months. The company said in a statement that it expects its second-quarter revenue to be T$105 billion ($3.56 billion) compared to T$67.79 billion in the first quarter. The company is expected to earn T$101.46 billion in revenue in the second quarter. The company also said it expects a gross margin and an operating margin at around 27 percent and 11 percent, respectively, improving from 25.03 percent and 7.53 percent in the previous quarter.

The company earlier this month released unaudited financial results for the first quarter of this year, showing the company’s total revenue has fallen by a dramatic 34.9 percent as compared to the same period in 2011. Total revenues fell from NT$104.2 billion (about $3.5 billion) to just NT$67.8 billion (roughly $2.3 billion). January was particularly painful for the firm, with revenues of NT$16.6 billion (around $565 million) as compared to NT$35 billion (approximately $1.2 billion) in January last year — a drop of more than 50 percent. Despite revenues only falling by around 35 percent, the company’s net income after tax fell by 70 percent year-on-year.

(Image Source: HTC logo)

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