HTC Q1 Revenue Up 174% Over 2010, 9.7 Million Units Shipped
Following up on the unaudited results published earlier this month, HTC published their final financial results for the first quarter of 2011, which beat their projected expectations. Last quarter, they launched the Inspire 4G, Thunderbolt, EVO Shift 4G, Desire S and Incredible S, while the Wildfire S, ChaCha, Salsa, Flyer, EVO 3D, and Sensation were all announced. 9.7 million units were shipped in Q1, which is a substantial 192% increase over last year, and 6% over last quarter. Average selling price per unit was $359, up 6% from last year, with operating margins sitting at 15.8% and gross margins down slightly to 29.3%. For Q2, HTC expects 11 – 11.5 million shipments, an operating margin of 15.5% and a gross margin of 29%.
Looks pretty rosy all around, but analysts weren’t blown away.
“That its first quarter would be above expectations was well foreseen, Q1 seasonality was better than expected.” – Bonnie Chang, Yuanta Securities
“We expect HTC’s new model launches in the second quarter to drive stronger shipment growth than peers in the next two quarters.” – Jeff Pu, Fubon Financial Holding Co.
“We don’t expect to see supply chain issues [stemming from the March 11 Japan earthquake] to hurt HTC’s shipments in the second quarter as it has adequate inventories. It still has two months to build up inventories for the third quarter.” – Bonnie Chang, Yuanta
Despite the progress, a recent NPD study has put iPhone sales have put Apple ahead of HTC in terms of U.S. market share, but the Evo 4G and Droid Incredible did manage to snag the number four and five most popular handsets. In any case, if you’re the financial type, you can find the full details of HTC’s first quarter financial numbers in this PDF.
[via HTC]
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