HTC Cuts Q4 Sales Guidance on Rising Competition, Weak Global Growth
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Financial Fact:
Operating income: 11.76B
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Operating income: 11.76B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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HTC Corp., the largest seller of smartphones in the U.S., has made a massive cut to its revenue outlook for the fourth quarter, cutting estimates by about 23 percent from a previously estimate $4 billion to $3.4 billion.
The new outlook for HTC would mean zero top-line growth quarter-over-quarter, something which hasn't happened since early 2010.
Citing increased competition from formidable rivals Apple (Nasdaq: AAPL) and Samsung Electronics, HTC also notes the sour economic environment in it's new outlook.
Shares of HTC trade publicly on the Taiwan stock market and closed down
5.83 percent on the day. Management’s lower outlook was announced after
the market closed.
The new outlook for HTC would mean zero top-line growth quarter-over-quarter, something which hasn't happened since early 2010.
Citing increased competition from formidable rivals Apple (Nasdaq: AAPL) and Samsung Electronics, HTC also notes the sour economic environment in it's new outlook.
Shares of HTC trade publicly on the Taiwan stock market and closed down
5.83 percent on the day. Management’s lower outlook was announced after
the market closed.
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