iPhone assembler Foxconn posts record Q3 revenue

seekingalpha10-05

Apple's (AAPL) largest iPhone assembler, Foxconn Technology (OTCPK:FXCOF), on Saturday reported T$1.85T ($57.3B) in revenue for Q3 2023, recording its best quarterly performance for the period, thanks...

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The Taiwanese company, formerly known as Hon Hai Precision Industry  , recorded ~20.2% YoY growth for the quarter, driven by its Cloud and Networking Products division, which counts chipmaker Nvidia  among its customers. Despite strong quarter-over-quarter growth thanks to new product launches, its Smart Consumer Electronics Products, tasked with iPhone assembly, recorded flat revenue growth compared to the prior-year period. Additionally, Foxconn recorded T$4.73T  in revenue for the YTD period, implying ~9.7% YoY growth, while its September revenue reached T$733.0B ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FXCOF":"Foxconn Technology Co., Ltd.","HNHPF":"Hon Hai Precision Industry Co. Ltd.","HNHAF":"Hon Hai Precision Industry Co. Ltd."},"translate_title":"iPhone组装商富士康第三季度营收创历史新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FXCOF":0.9,"HNHAF":0.9,"HNHPF":0.9},"content_text":"Apple's (AAPL) largest iPhone assembler, Foxconn Technology (OTCPK:FXCOF), on Saturday reported T$1.85T ($57.3B) in revenue for Q3 2023, recording its best quarterly performance for the period, thanks to a robust demand for its artificial intelligence (AI) servers. \"The result exceeded the company's original expectations of significant growth,\" Foxconn, the world's biggest contract electronics maker, said in a statement announcing the unaudited results. The Taiwanese company, formerly known as Hon Hai Precision Industry (OTCPK:HNHAF) (OTCPK:HNHPF), recorded ~20.2% YoY growth for the quarter, driven by its Cloud and Networking Products division, which counts chipmaker Nvidia (NVDA) among its customers. Despite strong quarter-over-quarter growth thanks to new product launches, its Smart Consumer Electronics Products, tasked with iPhone assembly, recorded flat revenue growth compared to the prior-year period. Additionally, Foxconn recorded T$4.73T ($146.4B) in revenue for the YTD period, implying ~9.7% YoY growth, while its September revenue reached T$733.0B ($22.7B), with ~34.0% growth from August.  As for the outlook, the company said its Q4 performance is expected to be in line with current market expectations.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2473974452"}