HTC 1Q10 revenues higher than target Tweet

HTC has posted revenues of NT$37.697 billion (US$1.19 billion) for the first quarter of 2010, increasing 19.33% from a year earlier, according to the company. The quarterly figures were also higher than the upper target of NT$32-34 billion the company had projected.

Shipments of new phones, including the HTC Legend, HTC Design, HTC HD mini as well as shipments of Android-based smartphones to T-Mobile and Verizon Wireless drove up HTC's revenue growth, commented market watchers.

For March alone, revenues reached NT$16.383 billion, up 60% sequentially and 32.38% on year.

HTC also said that it posted pre-tax profits of NT$5.745 billion and after-tax profits of NT$5.026 billion for the first quarter. Net EPS stood at NT$6.42 for the first quarter of 2010 compared to NT$6.54 of a year earlier.

HTC is expected to snap up revenues of NT$41.5-43.5 billion for the second quarter, according to an estimate of market sources.

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