HTC reports record Q2 net profits

29 Jul 2011

High demand for new products more than doubled HTC’s second-quarter net profits to a record high.

The smartphone maker reported a rise in net profit in the three months to June of 102.9pc to Tw$17.52bn, and revenue increased 104.1pc to Tw$124.4bn in the fifth consecutive quarter of growth.

Sales of smartphones also rose for HTC by 24.8pc from the previous three months and the company expected third-quarter shipments to increase 98pc year-on-year to 13.5m units.

HTC also forecast revenue in the three months to September to go up by 10pc quarter-on-quarter and 80pc year-on-year to Tw$137 billion.

The company’s earnings per share in the second quarter was Tw$21.69 while gross margins were 28.8pc.

Photo: The HTC ChaCha