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Stockreport

Taiwan Tech Giant Foxconn's 2024 Profit Misses Forecasts [Barron's]

Apple Inc. (AAPL)  More Company Research Source: Barrons
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
The world's largest contract electronics manufacturer has been moving beyond assembling devices such as Apple's iPhones into areas ranging from electric vehicles to AI servers. The company said full-year net profit rose seven percent to NT$152.7 billion (US$4.6 billion). That compares with an average forecast of NT$159.4 billion, according to a Bloomberg News survey of analysts. Full-year revenue rose 11 percent to NT$6.9 trillion, beating the market forecast of NT$6.8 trillion. Foxconn, also known as Hon Hai Precision Industry, has been riding a wave of global demand for generative AI in recent years. The company reported a "strong performance" in its AI server business, with revenue up 150 percent, according to documents released ahead of an earnings call with analysts. This year would be the "Year of AI", the company said, with shipments increasing in every quarter. The earnings announcement comes as US President Donald Trump imposed tariffs against major trading par [Read more]
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