HTC profit disappoints analysts

Michael Carroll
06/01/2014
News
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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