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Quarterly financial estimates show Samsung up, HTC makes expected loss

updated 05:39 am EDT, Fri October 4, 2013

First loss in HTC corporate history since going public

Samsung and HTC have both released unaudited quarterly earnings estimates, with wildly different results. While Samsung states it enjoys an operating profit of 10.1 trillion won ($9.3 billion), HTC managed to have a net loss of NT$2.97 billion ($101 million), its first quarterly loss in the company's history since it went public.

The $9.3 billion estimated profit of Samsung comes from 59 trillion won ($53.9 billion) in revenues, reports The Verge, with both figures increased from the 57.46 trillion won ($49.3 billion) revenues and 9.53 trillion won ($8.6 billion) profit of the last quarter.

HTC's first net loss of $101 million, as forecast by the company, takes into account reduced revenues of NT$47 billion ($1.6 billion). Not only is the revenue estimate lower than the $2.36 billion figure for the previous quarter, but also down from the low $2.05 billion it received in the same period last year.

More details relating to each company's financial state, such as sales figures for devices, will accompany the full quarterly financial results in the coming weeks.




by MacNN Staff

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