HTC reports losses for Q2 2017, ninth straight quarter in a row

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HTC has recently announced its financial results for quarter ending June, 2017. The company has reported a loss for Q2 2017 which is company’s ninth straight quarter since March 2015 when it last reaped a profit out of its operations. At this time, HTC has reported a loss of NT$1.95 billion which roughly amounts to US$64 million. The losses though narrowed from NT$2.03 billion in the previous quarter, the current situation is still concerning and alarming for the company as well as its stakeholders.

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In the second quarter ended June 2017, the company’s Earnings Per Share (EPS) was negative NT$2.37 when compared to negative NT$2.47 in Q1 2017. Company’s gross margin came down to 13.7 percent in the second quarter against 16.3 percent in the previous one. However, the company’s operating expenses in Q2 2017 were reported as NT$4.4 billion which shows significant improvement when compared to NT$4.7 billion in first quarter of 2017.

HTC expected that HTC U11 as its latest flagship could do wonders for the company in accelerating sales. However, the sales figures seem disappointing for the company as revenues were down 10.16 percent. With this downward trend, analysts expect further losses for the company in the coming days and months. When it reports financial results for the upcoming quarter. In the meantime, just after HTC posted its financial results, company’s shares were down 9.06% to $2.05 USD.

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