Competition Weighs Down HTC In Q2: Sales Drop 27% To $3B; Operating Profit, EPS Down By 57%

HTC has posted its Q2 numbers and they're not pretty. While numbers were up on Q1, the Taiwanese Android/Windows Phone smartphone maker saw declines in nearly every line of earnings compared to the same quarter a year ago. Revenues were 91.04 billion Taiwan dollars ($3 billion), down nearly 27% on Q2 2011 (and missing consensus analyst expectations); gross profit was down by more than 30% to NT24.59 billion ($819 million); operating profit down by over 57% to NT8.2 billion ($273 million). Earnings per share were also down by nearly 57% to NT8.9 ($0.30) per share. HTC also provided a sober look at the quarter ahead. It expects that in Q3 revenues will drop even further to?NT$70-80 billion ($2.3-2.7 billion), with the gross margin also dropping down to 25%, and the operating margin also coming down to 7%.

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