Not every smart phone maker can be Apple or Google.
Today, HTC Corp announced a second-quarter profit that beat estimates. The Taiwan-based company can thank its new One M8 for the better than expected profit. Net income topped $76 million for the three months ending in June. Most analysts were expecting a number closer to $69 million.
How big was the HTC One M8 for the company? It drove the largest monthly sales growth since 2011 in April.
Sales growth for the entire quarter slipped to $2.1 billion. That missed estimates calling for $2.3 billion and was on the tail end of HTC’s own forecasts.
HTC’s turn back into profit territory isn’t surprising. Chief Financial Officer Chang Chialin indicated a second quarter profit back in a May 6 conference call. The news is good for investors, though who have dealt with three consecutive quarters of losses.
HTC has been trying to steer the ship back into the right direction over the past several months. The HTC One M8 was a solid step in the right direction. HTC also acknowledged it needed help in its marketing efforts. They brought in Samsung’s former U.S. chief marketing officer to assist in those efforts.
The second-quarter profit shows these steps are working. HTC just needs to build on them.
What does the rest of the year hold for HTC? Chialin expects sales to continue heading higher as the year goes on.