HTC has just published its financial results for Q3 2015, and, as expected, there is little to get excited about.
The company has posted a revenue of $660 million for Q3 2015, a 7% decline compared to the previous quarter and less than half the revenue brought in by HTC in Q3 2014.
Ever since the announcement of this years flagship, it’s been downhill for the company. It posted a $157 million loss in Q2 this year and has posted a further loss of $139 million for this quarter. Even though these results are anything but good, it seems that the company’s cost-cutting measures have finally started to kick in, considering the company lost significantly less money this quarter on a smaller revenue.
Because of a string of bad quarters, HTC has announced that it will no longer provide financial guidance to investors, most likely in an attempt to protect what’s left of the company’s share value.
Despite all of this, revenues are expected to grow by 20 to 30% in Q4 2015 when compared to Q3 2015, thanks to new devices such as the One A9, which could mean a breath of hope for HTC. Additionally, the company’s CEO Cher Wang appears quite optimistic about the company’s future, and has previously stated that the full effect of their cost-cutting measures will be seen in Q1 2016 and, considering the company still has assets of over $4.1 billion, the company probably won’t be going anywhere anytime soon.
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