HTC Posts Downbeat Q3 Net Profit

Taiwan's HTC Corp

reported a 79% drop in its third-quarter net profit. HTC's quarterly unaudited net profit fell to T$ 3.9 billion ($133.17 million), from T$18.68 billion in the year-ago period and versus T$7.4 billion in the prior quarter. However, analysts were expecting earnings of T$5.57 billion. HTC's Q3 revenue came in at T$ 70.2 billion, versus T$91 billion in the second quarter. The company in August projected revenue of T$70 billion to T$80 billion.