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“Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead”

“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.”…”

https://www.cnbc.com/2024/04/05/apple-supplier-foxconn-posts-9percent-fall-in-first-quarter-revenue.html

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