Jul 05 AT 9:44 AM Nick Gray 8 Comments

HTC’s Q2 revenue comes in on target, YoY profits take a dive

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The latest numbers from HTC show that $2.4 billion in revenue from Q2 2013 came in right on target. Profits grew from $2.8 million in Q1 to $41.63 million. While the quarter-to-quarter profit increase is a step in the right direction, investors will still be taking note of the 83 percent drop in profits from Q2 of 2012.

With a full quarter of HTC One sales on the books, HTC has proven that the company is still able to make a profit. Unfortunately, it’s unclear how much longer HTC will be able to rely on the HTC One to stay in the black. Revenue for the month of June dropped 24 percent to NT$22bn after a spike to NT$29bn in May. The launch of the HTC One on Verizon later this summer may be able to keep demand for the HTC One steady for the next few months, but it looks like the company may need to rely on the launch of the HTC One Max and HTC One mini if HTC intends to increase revenue and profits into the third quarter.

Do you think there’s enough pent up demand for the Verizon HTC One to keep HTC’s earnings moving in the right direction?

Source: http://www.reuters.com/article/2013/07/05/us-htc-earnings-idUSBRE96405Q20130705

Nick is a tech enthusiast who has a soft spot for HTC and its devices. He started HTCsource.com (the first HTC blog) back in 2007 and later joined the Android and Me family in the summer of 2010.

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