Foxconn Q1 sales edge up, but Q2 outlook poor

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1 年前

STORY: Foxconn delivered some mixed news to investors on Wednesday (April 5).

The Taiwanese tech giant said revenue in the first quarter rose 3.9% year-on-year.

But it also warned sales for the current quarter would be down.

Foxconn is the world’s largest contract electronics maker and a major iPhone assembler for Apple.

It saw revenue reach the third highest on record for March at $13.1 billion.

Although that represented a year-on-year fall of just over a fifth.

It also saw a rise in sales in the first three months of the year to a new record high.

Foxconn warned the outlook for the second quarter was likely to fall on a quarter-on-quarter and year-on-year basis.

The company is due to report first quarter earnings on May 11.

It is also due to give an update on its outlook for the current quarter and full year on that date.

Last month, Foxconn predicted revenue for the full year would be flat.

That as weak demand for consumer electronics would be offset by large growth in other areas like computing and cloud products.

Foxconn shares are up 4.1% this year so far.