HTC posts 79 percent drop in quarterly profit for Q3 2012, net profit down to $133M

HTC released its third-quarter earnings today and announced a drop in net income to NT$3.9 billion ($133 million). The company’s net income is down from NT$7.4 billion in the quarter before and NT$18.68 billion during the same time last year. HTC announced revenue for the third quarter of NT$70.2 billion, missing analysts’ estimates from Bloomberg, as operating income declined 76 percent to NT$4.9 billion. HTC is certainly hoping its recently unveiled HTC One X+ might help it gain back some marketshare in Q4 as the device rolls out across Europe, Asia, and eventually the U.S. According to estimates from Bloomberg, HTC could post yet another drop to NT$5.2 billion in the fourth quarter on revenue of NT$76.5 billion.

Taoyuan, Taiwan–Octoboer 8, 2012–HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today announces unaudited consolidated results for 3Q 2012. For the third quarter of 2012, total revenues reached NT$70.2 billion. Unaudited operating income was NT$4.9 billion, net income before tax was NT$4.0 billion, net income after tax, excluding minority interest, was NT$3.9 billion, and unaudited earnings per share after tax were NT$4.70 based on 831,227 thousand weighted average number of shares.