HTC posts Q1 2013 financial results

Final Q1 results underscore what unaudited figures told us, but there's a more optimistic outlook for Q2

HTC has officially announced its consolidated first-quarter financial results, and the figures confirm what we learned a month ago from its unaudited Q1 figures-- specifically, it was a dismal quarter for the Taiwanese manufacturer. The first three months of 2013 weren't kind to HTC, with the company's new flagship handset, the HTC One, arriving too late to make any difference to its Q1 balance sheet.

Total quarterly revenues stood atNT$42.8 billion ($1.42 billion), with a gross margin of 20.3 percent and a razor-thin operating margin of just $0.1 percent. Net profit was NT$85 million ($2.88 million). Earnings per share (EPS) were NT$0.10 ($0.003).

In today's press release, CEO Peter Chou describes this as a "pivotal quarter" for HTC, as it transitioned to its new flagship smartphone. The HTC boss goes on to list various accolades picked up by the handset since its announcement.

Looking ahead to Q2, the company expects a significant uptick off the back of the HTC One, with predicted second quarter revenues of NT$70 billion ($2.73 billion), a gross profit margin of between 22 and 24 percent, and operating margin of 1 to 3 percent. With HTC One sales just starting to get going in many countries, the manufacturer has every reason to be optimistic. But it'll also have to contend with competitor Samsung's massive launch push for its new flagship, the Galaxy S4.

Source: HTC (PDF)

Via: HTC posts Q1 2013 financial results