TAIPEI :Apple Inc supplier Foxconn reported on Wednesday a 12 per cent jump in second-quarter net profit, beating market estimates, helped by strong demand for its cloud computing products.
The Taiwanese company, the world's largest contract electronics maker, said net profit for the April-June quarter rose to T$33.29 billion from T$29.78 billion a year earlier.The company, like other global manufacturers, has grappled with a severe shortage of chips that has squeezed smartphone production, and more recently a downturn in major markets amid high inflation and the war in Ukraine.
Foxconn shares closed 0.9 per cent higher ahead of the earnings release, versus a 0.7 per cent drop in the broader market. They have risen 5.8 per cent so far this year, giving the company a market value of $50.3 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foxconn to build autonomous electric tractors at Ohio facilityTaiwan's Foxconn, the world's largest contract electronics maker, on Tuesday said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio facility starting in early 2023.The announcement comes as heavy machinery manufacturers, including Deere & Co. and Georgi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Foxconn to build autonomous electric tractors at Ohio facilityTaiwan's Foxconn, the world's largest contract electronics maker, on Tuesday said it will build driverless electric tractors for California-based Monarch Tractor at its Lordstown, Ohio facility starting in early 2023.The announcement comes as heavy machinery manufacturers, including Deere & Co. and Georgi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
New OCBC service allows customers to make CPF top-ups using the bank app or websiteA new service by OCBC bank allows its customers to make top-ups to their Central Provident Fund (CPF) accounts by using the bank's mobile app or Internet banking platform. OCBC said on Wednesday (Aug 10) that it is the first bank to offer this service to
Source: thenewpaper - 🏆 7. / 63 Read more »
Cathay Pacific narrows loss, outlook clouded by crew COVID rules:Hong Kong's Cathay Pacific Airways Ltd said strict air crew quarantine rules were crimping its ability to take advantage of rising travel demand, even as it narrowed its first-half loss to HK$5 billion ($636.98 million).The carrier is falling far behind traditional rival Singapore Airlines Ltd (SIA) in resto
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »