Taipei, April 6 (CNA) Global Smartphone designer HTC on Tuesday publicized first quarter revenues of NT$37.7 billion (US$1.2 billion), up to 19.3 percent year-on-year and higher than its predict of NT$32 billion to NT$34 billion.

The company accounted for Q1 net income of NT$5.03 billion, with the earnings per share (EPS) of NT$6.42.
Though, it’s Q1 revenues and net profits were down 8 percent and 9.2 percent in that order from Q4 last year.

The company’s revenues rose harshly to NT$16.4 billion in March, an enlargement of about 60 percent from February and 32.4 percent than the same month last year.

According to HTC, the better-than-expected figures prove that it has accepted flourishing product policies.

Analysts said,

“As most institutional investors had predicted the company’s EPS for Q1 to be around NT$5 to NT$5.5, its shares are likely to rise Wednesday. HTC shares closed at NT$381 Tuesday, NT$6.0, or 1.6 percent higher than the closing figure Monday.”

Most overseas investors are hopeful about HTC’s position.
- Morgan Stanley lately hoisted its target price on HTC from NT$423 to NT$450.
- Macquarie Securities restated it’s “outperforming” rating for HTC with a target price of NT$420.
- Goldman Sachs maintained its “buy” rating for the company.

- BNP Paribas Securities said,

“That it has raised its forecast for the sale of HTC mobile phones this year by 9 percent — from 14.5 million to 15.8 million units. It has also raised its forecast for next year to 21.9 million units, up to 22 percent from its previous forecast of 17.9 million.”

(By Tien Yu-pin and Fanny Liu) ENDITEM /pc

[Via Focustaiwan]