HTC nets $21 million profit in third quarter, beats estimates but sales down
For the third quarter, HTC has announced that it earned $21 million in profit on revenue of $1.37 billion. Although this is a huge improvement over the hundred million dollar loss they reported in the year-ago quarter, the company remains in a shaky financial situation. Most of the return to profitability is accounted for by a drastic cost-cutting policy rather than increases in device sales.
Sales actually fell 8% in September year-on-year, following a 33% fall in July and a 10% improvement in August. Apple and Samsung remain fierce competition for the Taiwanese company, despite good hardware advancements in the HTC One M8.
