Taiwan's HTC posts first-quarter loss, lags estimates
TAIPEI, April 7
TAIPEI, April 7 (Reuters) - Taiwanese smartphone maker HTC Corp on Monday posted a wider-than-expected loss for the first quarter of 2014 as sales continued to decline.
Net loss was T$1.88 billion ($62.06 million) in January-March, compared with a mean loss of T$1.59 billion estimated by 18 analysts polled by Reuters.
The result also compared with a profit of T$300 million in the previous quarter - largely attributed to the sale of a stake in headphone maker Beats Electronics LLC - and profit of T$85 million a year earlier.
Shares of HTC closed 3.57 percent higher on Monday ahead of the earnings release, compared with a 0.14 percent decline in the benchmark index. ($1 = 30.2910 Taiwan Dollars) (Reporting by Michael Gold; Editing by Christopher Cushing)
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Islamic State crushes and coerces on march towards Baghdad