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HTC today reported its earnings for the first quarter of 2014 ending on 31st March and the results are not pretty. The company posted its third consecutive quarterly loss of NT$1.88 billion (roughly $62 million) on a revenue of NT$33.1 billion.
Things, however, are looking brighter for the company as it expects a return to profitability in the second quarter of this year, all thanks to the momentum created by the launch of the HTC One (M8). HTC noted that its sales in the EMEA region remained solid with continuous momentum from mid-range products like the HTC Desire 816, One Mini, and the Desire 500. In its home market, HTC’s latest flagship has been dominating sales since its launch.
HTC expects a quarterly revenue of somewhere between NT$65 billion to NT$79 billion with a gross profit margin of around 21%. While the expected revenue is slightly lower on YoY (Year-on-Year), it is still nearly double what HTC raked in the previous quarter.
Last year, even though HTC hit a home run with the One (M7), it struggled to remain profitable. The new One (M8), however, looks to be the hero device that HTC needed to keep its boat afloat. Here’s hoping that the company exceeds its revenue expectations for the next quarter and rakes in a decent profit.
