iPhone assembler Foxconn posts record Q3 revenue [Seeking Alpha]
HON HAI PRECSON S/GDR NEW (HNHPF)
NASDAQ:AMEX Investor Relations:
foxconn.com/investors_en/investors.html
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Source: Seeking Alpha
its best quarterly performance for the period, thanks to a robust demand for its artificial intelligence (AI) servers. "The result exceeded the company's original expectations of significant growth," Foxconn, the world's biggest contract electronics maker, said in a statement announcing the unaudited results. The Taiwanese company, formerly known as Hon Hai Precision Industry ( OTCPK:HNHAF OTCPK:HNHPF ), recorded ~20.2% YoY growth for the quarter, driven by its Cloud and Networking Products division, which counts chipmaker Nvidia ( NVDA ) among its customers. Despite strong quarter-over-quarter growth thanks to new product launches, its Smart Consumer Electronics Products, tasked with iPhone assembly, recorded flat revenue growth compared to the prior-year period. Additionally, Foxconn recorded T$4.73T ($146.4B) in revenue for the YTD period, implying ~9.7% YoY growth, while its September revenue reached T$733.0B ($22.7B), with ~34.0 % growth from August. As for the outlook,
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News
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