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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 HTC 10 smartphone and the HTC VIVE virtual reality system, have been embraced by the market; it endorses our revitalized focus on design, engineering and manufacturing,” said Chairwoman and CEO of HTC Cher 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.