Burying bad news is far from rare, although any company that publishes updates on a Sunday afternoon – as HTC did – should be red-flagged for lousy investor relations. The fact that its shares suffered a so-so drop of 3.6 per cent on yet another thumping operating loss suggests two things.
The first is that shareholders are immune to grim updates from the former smartphone darling. The second is that they may be starting to consider its break-up value.
Unscheduled reporting over a weekend is, alas, not that unusual in Taipei, even if it is a play straight out of the how-not-to-win-investor-trust handbook. A slightly smaller than expected fourth-quarter operating loss of T$1.6bn ($53m) will not go far in repairing relations.