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HTC posts more financial losses in latest quarterly report

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http://www.talkandroid.com – HTC released third quarter financial results today, and the trajectory is not good. For the fourth consecutive quarter, profits were down, this time by a whopping 79% compared to the previous quarter. Net income for the third quarter was down to $133 million compared to $247 million for the second quarter. Third quarter revenue was down to about $2.4 billion USD, which missed their guidance issued in August calling for revenue of $2.5 billion USD. Looking forward, the downward trend is expected to continue for at least a fifth consecutive quarter. HTC’s chief executive officer Peter Cho (IT news)