Apple manufacturing partner Foxconn/Hon Hai Precision Industry Co. posted earnings that topped analysts’ estimates, boosted by “robust demand” for Apple’s iPhone 13 line-up, reports Bloomberg.
Net income for the third quarter ending in September was NT$37 billion ($1.3 billion), the Taiwanese company said Friday in a statement. Analysts had estimated NT$32.4 billion on average. Sales for the period reached a record NT$1.4 trillion based on previously reported numbers.
Foxconn predicted that its business will wane this quarter from a year earlier — led by declines in consumer electronics and computing — signaling the company will continue to be affected by the semiconductor shortage. As noted by Bloomberg, Apple said last month it could lose more than $6 billion in sales this quarter because of supply chain issues.
