HTC Profit Misses Expectations

HTC Corp. posted an 83 percent decline in second-quarter net profit, missing analyst estimates, as the Taiwanese smartphone maker works on a difficult recovery from the first quarter’s record-low profit.

HTC, which has lost market share because of product delays and rising competition, said its unaudited net profit for the three months ended June 30 was 1.25 billion New Taiwan dollars (US$41.6 million), down from NT$7.40 billion a year earlier but higher than the NT$85 million of the previous quarter. The average expected net profit of seven analysts polled by The Wall Street Journal was NT$2.0 billion.

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