Apple supplier Foxconn reported a 30 per cent year-on-year jump in net profit for the second quarter on the back of strong demand for smartphones and computing products.
Net earnings were NT$29.8bn (US$1.1bn) in the three months to June, outperforming both the Taiwanese company’s expectations and analysts’ estimates while setting a record for the period. Revenue was up 20 per cent year on year to NT$1.4tn, also hitting a new high.
The world’s largest contract electronics manufacturer, which derives the bulk of its revenue from the assembly of Apple’s iPhone, said demand across its products would remain strong and forecast that third-quarter revenue would increase by between 3 and 15 per cent compared with the same period in 2020.
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