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)
- U.S., Arab partners launch first strikes on IS in Syria |
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- More Americans than ever have never married: survey