HTC reports a 19 percent increase in Q1 revenues

HTC's latest quarterly earnings report pointed to some healthy figures for the Taiwan based company that looks to supplant themselves as a premier force in the industry. HTC saw its revenues jump to $1.2 billion during Q1 2010 which is a 19.3 percent increase versus the same time last year while. On the other hand, net profit came in at $150 million with an earnings per share at $0.20. Although it pointed to some positive year over year growths, revenues and profits were down 8 percent and 9.2 percent respectively from the previous results gathered from Q4 last year. Typically there is a moderate drop in results from Q4 to Q1 seeing that the busy holiday season occurred during Q4 - with most people being lax when it comes to spending money after the holidays. Nonetheless, the good news out of HTC prompted investment firm Morgan Stanley to renew their stock with a “buy” rating. However, it was also accompanied with a higher stock price target. With a lot to look forward to for the rest of the year, HTC's track record seems to strengthen even more as they embark on releasing a handful of compelling devices that will no doubt keep people interested in their products.

source: Focus Taiwan via BGR