HTC posts Q3 loss that was lower than ex­pected

The China Post - - LOCAL -

Tai­wanese smart­phone maker HTC Corp. ( ) on Mon­day re­ported a lower-than-ex­pected loss per share for the third quar­ter thanks to com­pany-wide mea­sures to re­duce costs.

The Taoyuan-based com­pany’s rev­enue in the July- Septem­ber quar­ter was NT$21.40 bil­lion (US$654.8 mil­lion), in line with its pre­vi­ous es­ti­mates, and its op­er­at­ing loss was NT$4.94 bil­lion.

HTC’s net loss af­ter tax was NT$4.48 bil­lion, or a loss per share of NT$5.41, lower than the loss per share of be­tween NT$5.51 and NT$5.85 orig­i­nally forecast by the com­pany.

In the sec­ond quar­ter, HTC re­ported an op­er­at­ing loss of NT$5.1 bil­lion and a one-time charge of NT$2.9 bil­lion for idled as­sets and pre­paid ex­penses, trans­lat­ing into a loss per share of NT$9.7.

The sec­ond-quar­ter re­sults fol­lowed an HTC an­nounce­ment on Aug. 13 that it would cut 15 per­cent of its global work­force, or around 2,250 jobs, as part of the com­pany’s busi­ness re­align­ment plan to seek “sig­nif­i­cant prof­itable growth with a leaner and more ag­ile op­er­at­ing model.”

HTC shares closed up 0.15 per­cent at NT$65.7 in Taipei trad­ing on Mon­day prior to its earn­ings an­nounce­ment.

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