HTC Corporation announced its financial results for first quarter 2018 ended March 31, 2018. Revenues for Q1 2018 were NT$8.8 billion ($290 million), a decrease of 39.4%, compared to NT$14.53 billion ($490 million) in Q1 2017. Net profit for Q1 2018 was NT$21.1 billion ($710 million), compared to net loss of NT$2.03 billion ($68 million) in Q1 2017.
The decline in revenues was mainly driven by immense market competition, product mix, pricing, and recognized inventory write-downs. Chief Financial Officer said that they’re not forecasting that they’ll break even by Q3, only that they aim to do so, internally.
Analyst Comment
The dramatic profit that is so different from the heavy operating loss is a result of the purchase by Google of a lot of the firm’s smartphone activity. (BR) (HTC Finalises Smartphone Staff Transfer Deal with Google)
