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HTC posts Q1 profits ahead of phone launch this month

There’s no telling how things will work out for the beleaguered Taiwanese company -- sales took a nosedive last month.

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HTC is launching a new phone this month and ahead of that, it's got some good news.

Screenshot by Sean Hollister/CNET

HTC has good news to share ahead of the launch of its new flagship phone this month.

The Taiwanese company raked in a net profit of NT$21.1 billion (about $710 million or £520 million) after tax deduction, it said in a statement Monday.

This follows 11 consecutive quarters of financial loss for HTC and the loss of its head of smartphones, but it's not all sunshine and roses for the troubled company yet.

Despite better financial performance last quarter -- in part driven by its $1.1 billion deal with Google which closed in January -- HTC revealed last Friday that revenue went down about 55 percent year-over-year in April. Local media have called it a 13-year low.

CNET has reached out to HTC for a comment.

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