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Foxconn reports surge in profits, cautions on Covid related supply chain hit
- Friday | 13th August, 2021
TAIPEI (Reuters) -Foxconn, which assembles Apple’s iPhones, reported a consensus-beating 30% surge in quarterly profit on Thursday but cautioned it would have to “wait and see” if the worsening COVID-19 crisis in Asia would hurt its supply chain. For April-June, Foxconn reports that revenue rose by a fifth to T$1.35 trillion from a year earlier. The pandemic has shaken supply chains and fuelled a months-long global shortage of chips that has hurt many smartphone makers, consumer device firms and car companies. For the April-June quarter, Foxconn’s net profit rose to T$29.779 billion ($1.07 billion), compared with a Refinitiv consensus estimate of T$25.98 billion drawn from 12 analysts. ($1 = 27.7900 Taiwan dollars)(Reporting By Yimou Lee and Ben Blanchard; Editing by Himani Sarkar and Sayantani Ghosh)Related article:
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