Foxconn, a major supplier for Apple, reported a surprise 11% increase in third-quarter profit, reaching approximately $1.3 billion, surpassing analysts' expectations of a decline. The rise was attributed to strong demand for smartphones ahead of the holiday season. Despite the profit surge, Foxconn expects a slight decline in revenue for the year, with Q3 revenue down 12% year-on-year to around $47.7 billion. The company's positive performance is seen as a good sign for tech makers, especially for Apple. Meanwhile, Foxconn's revenue is expected to fall in the holiday quarter as iPhone 15 faces challenges. Apple's stock continues to rise despite Foxconn's revenue projections. The news of Foxconn's profit surge comes amidst Apple's disappointing sales outlook earlier in the month.
$PANW (-6.9% pre) Palo Alto Earnings Top Estimates; Billings Guidance Misses - IBD https://t.co/N4gjv57xeI
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CISCO $CSCO JUST REPORTED EARNINGS EPS of $1.11 beating expectations of $1.03 Revenue of $14.7B beating expectations of $14.6B Next quarter it expects adjusted EPS between $0.82-$0.84 below expectations of $0.99 and Revenue between $12.6B-$12.8B below expectations of $14.19B
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https://t.co/yYbBHSkIK6 reports Q3 revenue up 1.7% YoY to ~$33.98B, beating ~$33.81B est., and net profit up 33% YoY to ~$1.09B, beating ~$952M est., aided by cost controls (@benottowsj / Wall Street Journal) https://t.co/MkYXnOTKi1 https://t.co/e9ZiavDMab
Tencent reports Q3 revenue up 10% YoY to ~$21.4B, in line with ~$21.37B est., and net profit down 9% YoY to ~$5B, beating ~$4.7B est., as game sales recover (@byjoshye / Reuters) https://t.co/uzuT57evlP 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/jlyKb4CLa6
Foxconn, the company that assembles iPhones, posted a surprise 11% increase in third-quarter profit, against analysts’ expectations of an 11% drop. The Taiwan-based giant credited strong demand for smartphones ahead of the holiday season https://t.co/ZkzrwXzwWP https://t.co/6bZLfatKvw
Foxconn, the company that assembles iPhones, posted a surprise 11% increase in third-quarter profit, against analysts’ expectations of an 11% drop. The Taiwan-based giant credited strong demand for smartphones ahead of the holiday season https://t.co/57hlnhqitJ https://t.co/2ec7DR7p0Y
9TO5Mac headline today: "Foxconn revenue to fall in the holiday quarter, as iPhone 15 faces triple challenge" Foxconn is Apple's primary manufacturing partner. Its Oct. sales down 5% Y/Y. Meanwhile, AAPL's stock keeps rising in the great FOMO blowout rally https://t.co/vQJ7limE0z
Although Apple gave a sales outlook earlier this month that disappointed Wall Street, one of its biggest suppliers posted a surprise jump in earnings. iPhone-assembler Foxconn said net profit rose 11% in the third quarter, hitting $1.3 billion Read more: https://t.co/ZkzrwXA4Mn https://t.co/vdE7QW3htN
Although Apple gave a sales outlook earlier this month that disappointed Wall Street, one of its biggest suppliers posted a surprise jump in earnings. iPhone-assembler Foxconn said net profit rose 11% in the third quarter, hitting $1.3 billion https://t.co/57hlnhqitJ https://t.co/GtVNtCWz6l
Apple supplier Foxconn logged a surprise 11% increase in third-quarter profit, helped by gains in non-operating income but reiterated revenue was set to fall slightly for the year Read more: https://t.co/ZkzrwXA4Mn https://t.co/VkC8M6e4xM
Apple supplier Foxconn logged a surprise 11% increase in third-quarter profit, helped by gains in non-operating income but reiterated revenue was set to fall slightly for the year https://t.co/57hlnhqQjh https://t.co/VBSvKSA9KJ
Foxconn revenue to fall in the holiday quarter, as iPhone 15 faces triple challenge https://t.co/8WCvN6iUbN by @benlovejoy
Apple supplier Foxconn reported a surprise 11% increase in third-quarter profit, boosted by strong demand for smartphones ahead of the year-end holiday shopping season in Western markets Read more: https://t.co/ZkzrwXA4Mn https://t.co/TSloxFl7c4
Apple supplier Foxconn reported a surprise 11% increase in third-quarter profit, boosted by strong demand for smartphones ahead of the year-end holiday shopping season in Western markets https://t.co/57hlnhqQjh https://t.co/pgkSpXvqCU
Foxconn reports Q3 revenue down 12% YoY to ~$47.7B, net income up 11% YoY to ~$1.3B, and lowers the outlook for its components business to flat YoY (Bloomberg) https://t.co/RxwKrwYk1g 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/yGWGUazBaM
Apple's $AAPL largest supplier Foxconn just reported a surprise 11% jump in Q3 profit Revenue of $47.7B below expectations of $48.2B Net income of $1.33B beating expectations of $1.08B https://t.co/tE5NpSuZRo
Apple Supplier Foxconn Posts Earnings Beat. Why That’s a Good Sign for Tech Makers. https://t.co/dBU8jDvkuo
Apple supplier Foxconn posts surprise 11% jump in third-quarter profit https://t.co/bo84giTfF9
Apple supplier Foxconn posts surprise 11% jump in third-quarter profit https://t.co/iYdGgGB4Xm
Apple supplier Foxconn says profits fuelled by holiday season demand https://t.co/ZxfG91wEkM
Apple supplier Foxconn books surprise rise in quarterly profit https://t.co/rU81Hq6mNg https://t.co/UiaLaxH64K
Apple supplier Foxconn’s Q3 profit rises 11%, much better than forecasts #Foxconn #Apple https://t.co/OypOIPlELV