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Apple supplier Foxconn posts 14.5 percent drop in first-quarter net profit, lags forecasts

Reuters  |  TAIPEI 

TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and supplier to Apple, posted a 14.5 percent fall in first-quarter net profit on Monday, lagging estimates despite a strong quarter for the U.S. iPhone maker. Net profit for the first three months of 2018 for the company known formally as Hon Hai Precision Industry Co reached T$24.08 billion ($809 million), it said in a filing to the Taiwan stock exchange.That was down 14.5 percent from T$28.168 billion a year earlier, according to Reuters' calculations. The first-quarter result was also lower than an average ...

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First Published: Mon, May 14 2018. 18:07 IST