HTC Loses More Money In Q1 With Disappointing Revenues

Posted: May 6 2014, 11:50am CDT | by , in Latest Business News


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HTC loses more money in Q1 with disappointing revenues

The company faced a loss in Q1 but is looking forward to seeing a positive impact of HTC One M8 in the second quarter

HTC’s financial reports for the first three months of this year have been posted by the company and it still hasn’t recovered completely from its rough times and there still seems to be that unfavorable patch left behind. The company wasn’t able to reach its revenue budget; the earnings guidance suggested revenue missed on its $1.12-1.18 billion target and reached just $1.10 billion. This is a huge difference and this is also less than what the company earned in the same quarter of 2013; if compared to that time period, this figure is down from $1.4 billion.

The company has faced a net loss of $62 million and this was one of the greater disappointments because the company’s financials had shown profits for the previous year at $2.5million. Though we can certain of the fact that this quarter was one of the worst ones the company had seen, yet we can be sure of the hope from the second quarter which so far seems very promising. This is because the results of this particular quarter will take into account the effects of the release of the promising HTC One M8 and the Desire 816 and they both seem to be doing fine in the market.

As it has been predicted by HTC, the revenue would fall somewhere between the range of $2.160 billion - $2.326 billion or at least it would be double the amount that HTC managed this quarter. Moreover, the company is also looking forward to being profitable in this period.

source: corporate

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.




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