HTC Publishes Revenue for October, Down 12.43% MoM
It’s no surprise that HTC has been struggling to bring in a profit and increase the company’s revenues for a while now. We have been covering this extensively since the company started seeing a decline and there have not been many positive aspects to look at throughout this troubling time for the Taiwanese technology company. Still, after all the issues the company has been having, they still sound very optimistic despite the drop in revenue.
Last month we reported on the company’s Q3 earnings report and learned they lost $57 million after taxes. This was actually a loss of $63 million, but once you factor in taxes, the total amount reduced to $57 million. Despite that, they did have some good news for investors last month. They were able to bring in $700 million in overall revenue, which is up 18% compared to the quarter before and up 4% when compared to the same quarter of 2015.
However, things are not looking good for HTC this month. Granted, these monthly financial reports are unaudited, but they do give us a rough idea as to how well, or poorly, the company is doing. In the PDF press release linked below, HTC tells us their consolidated revenue for October of this year is NT$8.17 bn (which is $259.64 million). Then they go on to tell us that their overall revenue for January of this year all the way until October of this year is NT$64.09 bn.
However, what they exclude from this PDF press release is that these monthly numbers are actually down MoM and YoY. When looking at HTC’s Investors page, we can see that October’s monthly revenues were down 12.43% when compared to September revenues. On top of that, when we compare October’s monthly revenues to October of last year, we see the numbers are down 8.66%.
Still, despite all of the troubles, HTC is still optimistic that they will see positive earnings throughout the fourth quarter as the HTC Vive picks up momentum thanks to the holiday season.Source: HTC (PDF)