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Foxconn Q3 profit down 39%

Staff Writer |
Foxconn Technology Group posted a worse-than-expected 39% drop in third-quarter net profit compared with a year earlier.

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Taiwan-based Foxconn, known formally as Hon Hai Precision Industry Co., posted 21 billion New Taiwan dollars ($695.5 million) in net profit in the three months to September.

That was lower than the NT$35.6 billion average estimate by analysts polled by S&P Global Market Intelligence.

Its quarterly revenue was NT$1.1 trillion, nearly flat from a year ago.

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