HTC's Q2 profit surges 33% on strong sales

HTC said its second-quarter unaudited net profit rose 33 percent amid surging sales, surpassing the company's guidance from earlier this spring.

The company reported unaudited net profit of $268 million, up from $202 million in the year-ago period. The Taiwanese smartphone maker has surged to prominence thanks in large part to the company's embrace of Google's Android platform. HTC's revenue for the second quarter jumped 56 percent to $1.88 billion, up from $1.18 billion in the second quarter last year. In April, the company said it was expecting revenue of $1.6 billion for the quarter.

"HTC's second-quarter earnings result is better than its original second-quarter guidance, [as] both June and second-quarter revenues continuously hit record highs," the company said in a statement. 

Although HTC remains behind Nokia (NYSE: NOK), Research In Motion (NASDAQ: RIMM) and Apple (NASDAQ: AAPL) in terms of smartphone market share, according to research firm IDC, the company has benefited from growing brand recognition. It has also been the recipient of strong marketing support from some of the top U.S. carriers. Verizon Wireless (NYSE:VZ) is having trouble keeping Droid Incredibles in stock, and Sprint Nextel (NYSE:S) has been touting the Evo, its first WiMAX smartphone, and is also experiencing shortages of the device. 

For more:
- see this Dow Jones Newswires article (sub. req.)
- see this Engadget post
- see this JKOnTheRun post

Related Articles:
HTC touts brand growth, multi-platform approach
Verizon CEO: Component shortages hampering supply of HTC Incredible
HTC's rise linked to Android, innovation
Sprint launching HTC Evo June 4 for $199
HTC boasts of U.S. smartphone growth

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