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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  HTC Corporation    2498   TW0002498003

HTC CORPORATION

(2498)
  Report
End-of-day quote. End-of-day quote Taiwan Stock Exchange - 01/22
27.85 TWD   -0.54%
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SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

HTC third quarter profit beats estimates as cost cuts offset weak sales

10/03/2014 | 04:52am EST

TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp (>> HTC Corp) swung to better-than-expected profit in the third quarter from a heavy loss a year earlier, as cost cuts helped it offset the impact of still-sluggish sales.

TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp (>> HTC Corp) swung to better-than-expected profit in the third quarter from a heavy loss a year earlier, as cost cuts helped it offset the impact of still-sluggish sales.

HTC said on Friday it earned T$640 million (13.05 million pounds) in unaudited net profit during the July-September quarter, well above a T$216.23 million mean estimate of 13 analysts polled by Thomson Reuters. In the same period a year earlier, it turned in a loss of T$3 billion.

The company makes devices, such as its flagship One M8, that consistently garner accolades from critics but fail to lure customers. The former contract manufacturer has struggled to maintain a distinctive brand image in an increasingly crowded marketplace.

HTC said during its last quarterly earnings briefing that improved efficiency in its sales and marketing operations would help the company maintain profitability in July-September after booking losses in third quarter 2013 and the first quarter of this year.

Sales in July dropped 33 percent from the same month a year earlier, but recovered to rise by 10 percent in August compared with the year-earlier month, the company has said.

HTC's sales in September fell 7.9 percent on year to T$16.7 billion, the company said in a separate release on Friday, adding year-to-date revenue through September was down 13 percent to T$140 billion.

While HTC's sales slip, the overall smartphone market is buoyant. Researcher IDC predicts worldwide smartphone shipments will expand by 24 percent this year, while Silicon Valley powerhouse Apple Inc (>> Apple Inc.) moved a record number of new iPhones during the models' first weekend of sales.

Brisk business for the iPhone 6, which many view as the main competitor to HTC's One M8, likely cut into HTC's sales in September, SinoPac Securities analyst Calvin Huang wrote in a recent research note.

Shares of HTC closed up 2.3 percent before the earnings release, compared with a 1.5 percent gain in the benchmark TAIEX index <.TWII>.

(Reporting by Michael Gold and Faith Hung; Editing by Kenneth Maxwell)

Stocks treated in this article : Apple Inc., HTC Corp

© Reuters 2014
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.61% 139.07 Delayed Quote.3.15%
HTC CORPORATION -0.54% 27.85 End-of-day quote.-9.43%
RISE, INC. -4.00% 24 End-of-day quote.0.00%
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Financials
Sales 2019 10 015 M 358 M 358 M
Net income 2019 -9 358 M -335 M -335 M
Net cash 2019 31 791 M 1 137 M 1 137 M
P/E ratio 2019 -3,36x
Yield 2019 -
Capitalization 22 799 M 815 M 815 M
EV / Sales 2018 -0,54x
EV / Sales 2019 -0,03x
Nbr of Employees 3 905
Free-Float 79,3%
Chart HTC CORPORATION
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HTC Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends HTC CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
 
Mean consensus SELL
Number of Analysts 1
Average target price 25,60 TWD
Last Close Price 27,85 TWD
Spread / Highest target -8,08%
Spread / Average Target -8,08%
Spread / Lowest Target -8,08%
EPS Revisions
Managers and Directors
NameTitle
Hsiueh Hong Wang Chairman
Harjit Gill Chief Operations & Marketing Officer
Maggie Tseng Senior Director-Finance
Tao Pang Shen Chief Financial Officer
Wan Hsien Liu Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
HTC CORPORATION-9.43%815
APPLE INC.3.15%2 339 611
SAMSUNG ELECTRONICS CO., LTD.7.16%526 208
XIAOMI CORPORATION-10.24%96 742
WINGTECH TECHNOLOGY CO.,LTD27.78%24 298
MERRY ELECTRONICS CO., LTD.-8.19%1 006