As we slip into the cold, dark embrace of the final quarter of 2013, companies are starting to reveal their financial results for Q3. Namely, Samsung and HTC have shown off their stats, with one being very good, and the other being pretty bad.
Unsurprisingly, it’s Samsung that’s on the up. The company has said it will post a record-breaking third quarter, with operating profit at $9.2 billion to $9.6 billion. That works out to an increase of at least 23 percent over the same period last year. Since that time the company has released some major new additions to its mobile handset line including the likes of the Galaxy S4, as well as a host of other electronics. It sets the outfit a new record, smashing the second quarter’s $7 billion with ease.
Sales were also up at least 11 percent to the region of $54 billion. All this good news raised the company’s shares by a single percent, although that’s not enough to cover the seven percent drop since last May. There’s still slight concern over the company’s slowing phone sales, but these results should help ease fears.
Sadly, HTC weren’t able to report the same kind of earnings – far from it in fact. The company has confirmed that it will post staggering losses of $100 million for Q3. We can’t comment on just how much of the loss went to Robert Downy Jr. If you recall last week, we outlined this as only a possibility in the wake of supply issues, but it’s for definite now. This news comes despite the HTC One’s solid performance, raising concerns as to how the company might recover from such a hit.
This next quarter is, of course, the holiday season. Expect a massive push for sales over the next three months, and possibly even bigger results for the likes of Samsung and, hopefully, HTC.
Source: CNN Money