HTC announces $21 million in profits on revenue of $1.37 billion

For the third quarter, HTC has announced that it earned $21 million in profit on revenue of $1.37 billion. Although this is a huge improvement over the hundred million dollar loss they reported in the year-ago quarter, the company remains in a shaky financial situation. Most of the return to profitability is accounted for by drastic cost-cutting policy rather than increases in devices sale.