Foxconn Q3 Financial Results
Foxconn Technology Group is set to release its third-quarter financial results on Tuesday. Here are the key details:
Net Profit Forecast:
Analysts surveyed by S&P Global Market Intelligence expect Foxconn to report a 10% decrease in net profit, amounting to NT$34.89 billion (US$1.08 billion). This compares to NT$38.76 billion in net profit during the same period last year.
Revenue:
Foxconn has already stated that its third-quarter revenue declined by 12% to NT$1.543 trillion, based on unaudited figures.
What to Watch:
Outlook:
Foxconn anticipates a significant improvement in business performance in the fourth quarter compared to the previous three months. Investors will be eager to hear any forecasts or projections for the upcoming quarters. In October, revenue dropped by 4.6% to NT$741.20 billion, mainly due to weaker customer demand for cloud and networking products and a slowdown in the personal-computer market.
Margin:
Investors will closely monitor any signs of margin improvement. In the second quarter, the operating profit margin decreased to 2.37% from 2.77% in the first quarter and 2.94% in the same period last year. Many manufacturers are currently grappling with high inflation globally, making margin improvement a significant concern.
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