Apple supplier Foxconn’s Q4 profit jumps 33% year-on-year, beats forecasts

By Thomson Reuters Mar 14, 2024 | 1:28 AM

TAIPEI (Reuters) – Apple supplier Foxconn reported on Thursday a 33% rise in fourth-quarter profit, boosted by strong year-end sales during the peak holiday season.

The Taiwanese company, the world’s largest contract electronics maker, said net profit for the October-December quarter rose to T$53.14 billion ($1.69 billion) from T$40 billion in the same period the previous year.

The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate.

($1 = 31.5050 Taiwan dollars)

(Reporting by Yimou Lee and Faith Hung; Editing by Anne Marie Roantree and Christopher Cushing)