Apple supplier Foxconn beats estimates in Q3

Taiwan’s Foxconn, a major Apple supplier, reported a better-than-expected third-quarter profit on Friday, helped by strong demand for consumer electronics.

Foxconn to resume iPhone assembly: Foxconn logo

Foxconn reported Q3 (July-September) net profit of T$36.98 billion ($1.33 billion), a 20% increase year over year, the company said in a statement.

Foxconn’s net profit easily the analysts’ consensus estimate of T$31.73 billion (Refinitiv).

MacDailyNews Note: Apple in late October posted a June-September quarter revenue record of $83.360 billion (vs. $64.698 billion YOY), up 29% year over year.

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