HTC posts $63 millon operating loss in Q3 2016 earnings report

HTC has posted its financial results for Q3 2016, ending September 30, which reveal an NT$2 billion operating loss, equivalent of around US$63.30 million. Despite the current shortfall, however, the Taiwanese manufacturer’s NT$22.2 revenue for Q3 helped it climb from a -NT$4.2 billion (-US$132.92 million) operating loss in Q2 2016.

Looking at HTC’s figures for September also shows big changes, with a 41.84% month-on-month increase and 31.35% year-on-year increase in revenue. Additionally, HTC’s operating margin improved significantly, moving from -23.1% to -9.0% in the past 12 months.

“We are delighted at how our flagship products, the HTC10 smartphone and the HTCVIVE virtual reality system, have been embraced by the market; it endorses our revitalized focus on design, engineering and manufacturing,” said Chairwoman and CEO of HTCCher Wang in the report.

HTC also stands to generate strong sales numbers in Q4 thanks to its partnership with Google on its recently released Pixel smartphones and may gain an unforeseen boost from Samsung’s Galaxy Note 7 fumble.

HTC has appeared for several years to be teetering on the edge of failure, but after branching out into VR and cameras, and working on the well-received Pixels, the tide may be turning.