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HTC growth fuelled by Android as revenues rise by 58% in Q2 2010

Earnings better than expectations

HTC growth fuelled by Android as revenues rise by 58% in Q2 2010
HTC's [TPE:2498] allegiance to Android is paying off, with the release of the Taiwanese manufacturer's Q2 2010 financials revealing another set of impressive figures.

In the quarter ending June 2010, total revenues were T$60.5 billion or $1.88 billion, up 58.5% year-on-year.

Self-assessed operating income for the quarter was T$9.17 billion ($285 million), or T$8.64 billion ($268 million) after tax.

Record results

As such, Q2 2010 represents HTC's highest quarter unaudited net profit since Q4 2007, with results exceeding internal expectations.

"Both June and 2Q revenues continuously hit record highs, [showing] good execution of brand strategy and growth scale strategy," HTC noted in a short statement.

In total, sales are up 41 percent in the first six months of 2010, with June revenues alone up 66.68% year-on-year, hitting T$23.9 billion or $741 million.

Shares in the firm closed at T$11.77 a share, up from T$8.30 a year previous.

[source: HTC]

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.