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HTC Misses Analysts' 4Q Net Income Expectations

HTC posted fourth-quarter financial results on Sunday that came in below analysts' expectations despite aggressive cost cutting. The Taiwanese handset maker recorded a net income o... More HTC posted fourth-quarter financial results on Sunday that came in below analysts' expectations despite aggressive cost cutting. The Taiwanese handset maker recorded a net income of NT$310 million ($10 million) for the quarter ended December 31, compared with a net loss of NT$2.97 billion ($101 million) in the previous quarter and a net profit of NT$1.01 billion ($34 million) in the year-ago period. The analysts polled by Bloomberg had been expecting an average net income of about NT$694 ($22 million). The sale of its remaining 25 percent stake in Beats Electronics for $265 million helped the company avoid its second-consecutive quarterly loss. Less

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