HTC confirms first quarterly loss in company's history

via cdn3.sbnation.com

HTC has released its unaudited earnings for the first quarter of 2013, and the results confirm what the company itself predicted in July — it's losing money. The smartphone manufacturer made a net loss of NT$2.97 billion (about $101 million) on revenue of NT$47.05 billion (about $1.6 billion). Operating loss was NT$3.50 billion, or about $119 million.

HTC had earlier predicted revenues of between NT$50 and 60 billion for this quarter, a slip from analyst consensus and down on last year's NT$70.2 billion. It appears that sales of devices such as the HTC One over the past few months have failed to meet even the company's expectations, with revenue down 33 percent year-on-year. The loss is the first posted by HTC since it went public in 2002, and comes just as rival Samsung predicted record profits for the same quarter.

The Verge
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