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Apple Supplier Foxconn Sees 20% Surge In Q2 Revenue

Benzinga2021-07-06

Apple Inc (NASDAQ:AAPL) supplier Foxconn reported a sharp year-over-year rise in second-quarter revenue despite two back-to-back months of decline as the pandemic induced demand for work-and-learn from home devices remains robust amid supply global semiconductor shortages.

What Happened: Hon Hai Precision Industry Co. (OTC:HNHPF), popularly known as Foxconn, reported a revenue of $48.7 billion, a jump of 20%, in Q2. The company reported a revenue of $16.38 billion in May and $14.39 billion in June.

Why It Matters: The Taiwan-based iPhone maker had in May warned the ongoing chip crisis could worsen in the second quarter with a business impact of 10%.

However, demand from Apple and other clients has remained robust and consumers continue to lap up work- and learn-from-home opportunities.

The company’s first-quarter profit beat estimates, helped by an extended work-from-home boom spurred by the COVID-19 pandemic.

Price Action: Foxconn shares closed 0.62% lower at $8.05 on Friday.

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Comment18

  • InvisibleP
    ·2021-07-06
    Too late to buy? 
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  • skylander
    ·2021-07-06
    Wow...this is good!
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  • WLtan
    ·2021-07-06
    Great
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  • FlyToMoon
    ·2021-07-06
    Nice
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  • SheperdBoy
    ·2021-07-06
    More demand, more supply= price increase?
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  • imsomeonelse
    ·2021-07-06
    Wow
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  • FrancesLee
    ·2021-07-06
    Grear
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  • JoelLee
    ·2021-07-06
    Like and reply pls thx!
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    Fold Replies
    • WLtan
      great
      2021-07-06
      Reply
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  • 大笨象形
    ·2021-07-06
    [流淚] [流淚] 
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  • Jimmyboy
    ·2021-07-06
    Please like and comment.
    Reply
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  • Tenten
    ·2021-07-06
    Reply and like, thanks.
    Reply
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  • Prakesh
    ·2021-07-06
    Good
    Reply
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  • Tenten
    ·2021-07-06
    Reply abs like pls!
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  • Peilinn
    ·2021-07-06
    [Cool] 
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    • Peilinn
      [Cool]
      2021-10-10
      Reply
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    • Peilinn
      [Cool]
      2021-10-06
      Reply
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    • Peilinn
      [Cool]
      2021-07-07
      Reply
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    View more 2 comments
  • Kikiooi
    ·2021-07-06
    Cool 
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  • Pluto891
    ·2021-07-06
    if supplier make money, apple shd make money
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    • Kikiooi
      Agree
      2021-07-06
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  • BKZH
    ·2021-07-06
    Awesone
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    • Pluto891
      indeed
      2021-07-06
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  • 4499nose
    ·2021-07-06
    Reply
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