HTC made a rare profit during Q1 2018, largely thanks to Google

Pocketnow

HTC's quarterly revenues were down again in the January - March 2018 timeframe, generating an operating loss of around $175 million, but thanks to a recent Google deal, the Taiwanese company actually posted a net profit.

Here’s something you don’t hear every day: HTC actually made a profit last quarter. Specifically, a net profit of NT$21.1 billion, equating to around US$706 million, generated between January and March 2018.

Unfortunately for a company that’s been on a losing streak for a good few years now, this Q1 win is not owed to some spectacular U11 comeback, thriving U11+ sales or an overnight Vive break into the mainstream.

Instead, HTC technically had yet another poor quarter, with NT$5.2 billion (US$175 million) operating losses produced by the firm’s core business operations, which were offset by the $1.1 billion cashed in as a result of a Google deal involving intellectual property, engineering and tech staff.

Still, this puts an official end to a bleak period of 11 consecutive quarters in the red for one of Android’s pioneers and biggest innovators over the years, which will try again later this month to turn a high-end phone into a commercial hit.

Alas, HTC’s quarterly NT$8.8 billion revenues took a massive dive from both Q1 and Q4 2017’s NT$14.5 and NT$15.7 billion totals, with a gross margin of -3.1 percent, although investors are likely to focus on their rare NT$25.7 gain per share. At least until Q2 concludes, with April 2018 earnings painting yet another dreary picture ahead after a 24 percent monthly dip and 55 percent yearly slump.