HTC Returns to Profit as Cost Cuts Offset Sales Miss
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HTC Corp., the smartphone maker that reported three straight quarterly operating losses, returned to profit after the release of its marquee One M8 smartphone and marketing cost cuts helped stem the effect of a sales decline.
Second-quarter net income was NT$2.26 billion ($76 million), the Taoyuan, Taiwan-based company said in a statement yesterday. That’s higher than the NT$2.06 billion average of 14 analyst estimates compiled by Bloomberg.