HTC profit disappoints analysts

Michael Carroll
Daily News

HTC’s fourth quarter earnings weren't enough for analysts, despite the firm returning to profit during the period.

The Taiwanese smartphone vendor generated net profit of TW$310 million ($10.4 million), well down on the TW$1 billion it made in 4Q12, but up from a TW$2.9 billion loss in 3Q13.

Sales of TW$42.8 billion in 4Q13 were down from TW$60 billion in 4Q12, and earnings per share fell to TW$0.38 in the recent quarter from TW$1.21 in 4Q12.

Despite returning to profitability, the figure falls well short of analyst predictions of a NT$721 million profit, Reuters reports.

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