{"id":52474,"date":"2020-08-12T10:07:26","date_gmt":"2020-08-12T10:07:26","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=293535"},"modified":"2020-08-12T10:07:26","modified_gmt":"2020-08-12T10:07:26","slug":"foxconn-performs-as-expected-in-q2","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/08\/12\/foxconn-performs-as-expected-in-q2\/","title":{"rendered":"Foxconn performs as expected in Q2"},"content":{"rendered":"

<\/p>\n

\tFoxconn fared better than it predicted during Q2, with annual declines in overall and consumer unit revenue more muted than executives feared as Covid-19 (coronavirus) lockdowns spurred demand for devices.<\/p>\n

The company recorded sequential growth in revenue at its consumer unit, albeit the division did not escape the pandemic completely unscathed with sales down year-on-year. And Foxconn conceded the figure would likely be down again in the current quarter.<\/p>\n

Foxconn\u2019s other product groups, enterprise; computing; and components, all made annual revenue gains during Q2: the manufacturer was bullish on further increases being recorded during the current quarter for all but its components unit.<\/p>\n

Net profit in Q2 increased 34.2 per cent year-on-year to TWD22.9 billion ($779.3 million), while revenue dipped 2.7 per cent to TWD1.13 trillion.<\/p>\n

The revenue decline is in line with a prediction for a single-digit drop [1] made by Foxconn chairman Liu Young after an opening quarter when it recorded net profit 89 per cent lower and revenue 12 per cent down on Q1 2019.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/devices\/news-devices\/foxconn-expects-further-earnings-pressure-after-q1-drop<\/p>\n\n

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Foxconn fared better than it predicted during Q2, with annual declines in overall and consumer …<\/p>\n

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