Foxconn Reports Strong First-Quarter Profit Growth
Taiwan-based Foxconn, the world’s largest contract electronics manufacturer, posted a strong increase in first-quarter profit on Thursday, surpassing analyst expectations.
The company reported net profit of T$49.92 billion for the January-to-March period. This exceeded the LSEG analyst consensus forecast of T$48.88 billion.
Profit Rises 18.5% Year-Over-Year
Foxconn’s first-quarter earnings marked an 18.5% increase compared with the T$42.12 billion profit recorded during the same period last year.
The company remains a major supplier in the global technology industry, serving as Nvidia’s largest server manufacturer and Apple’s leading iPhone assembler.
