Apple supplier Foxconn posts 18.3 per cent rise in third-quarter profit

Taiwan’s Foxconn, the world’s top contract electronics maker and a key Apple supplier, posted an 18.3 per cent rise in third-quarter net profit on Tuesday.

Net profit for the three months ended September was T$ 24.88 billion (USD 805.52 million), said Foxconn, formally known as Hon Hai Precision Industry Co.

This was below a mean estimate of T$ 28.26 billion from nine analysts, according to I/B/E/S data from Refinitiv.Shares in Foxconn and other Asian suppliers and assemblers for Apple fell on Tuesday after several component makers warned of weaker than expected results, leading some market watchers to call the peak for iPhones in several key markets.

(Source)