The company, formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$17.49bil (US$567.25mil) late on Monday, 20% short of analyst expectations and slightly below the year-earlier results. Foxconn shares fell more than 3% yesterday
TAIPEI: Foxconn posted second-quarter net profit well below expectations as a rise in component costs and unsold inventory weighed on the performance of the Apple supplier and world’s top contract electronics maker, analysts said.
The company, formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$17.49bil (US$567.25mil) late on Monday, 20% short of analyst expectations and slightly below the year-earlier results. Foxconn shares fell more than 3% yesterday.
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