Apple provider Foxconn posts shock rise in quarterly revenue

Apple provider Foxconn posts shock rise in quarterly revenue

TAIPEI (Reuters) -Apple Inc provider Foxconn reported on Tuesday a shock 11% improve in third-quarter revenue, boosted by sturdy demand for good shopper electronics forward of the year-end vacation purchasing season in Western markets.

The Taiwanese firm, the world’s largest contract electronics maker, mentioned internet revenue for the July-September quarter rose to T$43.1 billion ($1.3 billion) from T$38.8 billion in the identical interval the earlier 12 months.

The revenue beat a T$34.5 billion LSEG SmartEstimate, which provides larger weight to forecasts from analysts who’re extra persistently correct.

Foxconn mentioned income for the fourth quarter would barely decline 12 months on 12 months, however didn’t give a cause and maintained its outlook for full-year income to additionally barely decline.

The world’s greatest assembler of iPhones mentioned it expects income for its good shopper electronics division, which incorporates smartphones, to additionally fall barely within the fourth quarter. The division makes up about half of Foxconn’s complete income.

($1 = 32.3430 Taiwan {dollars})

(Reporting by Yimou Lee and Sarah Wu; Enhancing by Anne Marie Roantree and Edwina Gibbs)

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