HTC’s Q3 Net Profit Grows by 68%
HTC is reporting a 68% year-over-year increase in net profit for Q3 2011, despite a 34% drop-off in stock value since July 1st. The company’s revenue grew by 79% to 135.82 billion New Taiwan dollars. Profits increased to NT$18.64 billion (US$615.3 million) from NT$11.1 billion for the same period during the previous year.
Shrinking margins and concerns over HTC’s competitiveness in the market in the midst of an Apple lawsuit and the pending release of the iPhone 4S have raised questions, but overall Q3 figures read as analysts expected they would. HTC shares saw a 1.6 percent increase on Tuesday.
[via WSJ]