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HTC’s Q1 gross margin continues to improve

By Jenny Shen, cnYes 2022-05-03 13:06

TAIPEI (cnYes/cnPost) – HTC (2498-TW) announced on Tuesday (May 3) its first-quarter financial results, with gross margin continuing to improve, reaching 37.8%, up for the 18th consecutive quarter. 

After-tax loss declined to NT$760 million, or $0.92 per share, compared to the same period last year. 

HTC’s Q1 revenue was NT$1.1 billion, down 20.57% QoQ and 6.44% YoY. The gross margin was 37.8%, up 4.1 percentage points QoQ and 8.9 percentage points YoY. 

The gross profit margin was 37.8%, up 4.1 percentage points QoQ and 8.9 percentage points YoY, while the profit margin was -94.6%, up from the previous quarter and down from the same quarter last year. 

The after-tax loss was NT$760 million, a loss comparable to the fourth quarter of last year and a significant recovery from the same period last year. 

Looking back at the first quarter of operations, HTC unveiled the VIVERSE for the first time at the MWC Barcelona 2022, a metaverse ecosystem that connects people from all walks of life to an open and accessible virtual world. 

HTC also announced the VIVE Connect – a cross-platform configuration application that allows users to travel across platforms – and VIVE Guardian – a system allowing parents to control their child’s VR experience through their phones – functionalities available on the platform for free. 

In addition, the company introduced a new tracking accessory, the VIVE Wrist Tracker, at CES 2022. The first inside-out tracker for the VIVE Focus 3 accurately tracks movements from the fingertips to the elbow, creating a near-realistic VR immersive experience. 

HTC and MyndVR have further announced MyndConnect, a new long-term care service for seniors that allows for real-time sharing of VR experiences with family members in the metaverse through the immersive VR goggles VIVE Flow and VIVE Focus 3. 

HTC is also partnering with XRHealth to showcase VIVE Flow and VIVE Focus 3 at the Healthcare Information and Management Systems Society Global Health Conference (HIMSS) to provide virtual reality solutions for healthcare organizations and expand hospital care services, patients and rehabilitation centers. 

— Translated by DB, cnPOST