“Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead”
April 8, 2024
“Apple iPhone manufacturer Foxconn on Friday posted a dip of 9.6% in revenue for the first quarter of 2024, compared with the same period last year.
The company, which trades as Hon Hai Precision Industry in Taiwan, recorded first-quarter revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which was also 28.58% lower compared with the fourth quarter of last year. It was also below economists’ expectations in a poll by LSEG, formerly known as Refinitiv.
The company still expects revenue to grow in the second quarter, despite noting that it “remains a traditional off-peak season.”…”