Foxconn has reported July revenues of NT$315.06 billion (US$10.62 billion), up 7.53% year-on-year. Its revenue would have been even higher but strong consumer electronics income was offset by poorer performance elsewhere in the business …
Digitimes reports that market watchers are of course expecting growth to accelerate this month, with strong income through to the end of the year thanks in large part to iPhone production.
However, profits were below analyst expectations due to increased operating expenses. Some are speculating that these were higher than expected due to manufacturing challenges for the iPhone 8.
Foxconn is one of a number of Apple suppliers to see its share price benefit from Apple’s decent Q3 results and Q4 guidance, with demand for the latest iPhones expected to drive strong business throughout the company’s supply chain.
Closer to home, the $3B tax subsidy offer to Foxconn to establish an LCD display plant in Wisconsin has come under fresh scrutiny after a state financial analysis calculated that taxpayers wouldn’t recoup their investment until the 2042-2043 fiscal year.