Apple Supplier Foxconn Posts Record Q3 Revenue: Says ‘Cautiously Positive’ on Q4 Outlook

Apple Supplier Foxconn Posts Record Q3 Revenue: Says ‘Cautiously Positive’ on Q4 Outlook
A Foxconn logo on a building in Tucheng district, New Taipei City, Taiwan, on May 6, 2022. Sam Yeh/AFP via Getty Images
Benzinga
Updated:
Apple Inc. supplier Hon Hai Precision Industry Co., Ltd., operating as Foxconn, said the company is “cautiously positive” about the outlook for the fourth quarter.

What Happened

The company said “the dynamics of inflation, the pandemic, and the supply chain still need to be closely monitored,” and added that the outlook for the entire year has been maintained as stated in the earnings call in August.
“At the time, it was revised upward to growth from flattish expectation,” it said.

Record Revenues

The company reported a record third-quarter revenue of NT$1,746.3 billion ($55 billion), up 24.4 percent year-on-year, which, it said, surpassed its own expectations.