Apple supplier Foxconn posts 9% fall in first-quarter revenue, sees growth ahead

Technology

Pictured here is a Foxconn factory in Zhengzhou city on Sept. 4, 2021.
Vcg | Visual China Group | Getty Images

Apple iPhone manufacturer Foxconn on Friday posted a dip of 9.6% in revenue for the first quarter of 2024, compared to the same period last year.

The company, which trades as Hon Hai Precision Industry in Taiwan, recorded a first-quarter revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which was also 28.58% lower compared to the fourth quarter of last year. It was also below economists’ expectations in an LSEG poll.

However, the company expects revenue to grow in the second quarter, despite noting that it “remains a traditional off-peak season.”

Stock Chart IconStock chart icon

Articles You May Like

Google CEO Pichai tells employees to gear up for big 2025: ‘The stakes are high’
Hyundai is preparing to launch its first electric minivan: Here’s what we know so far
Albania to ban TikTok for a year as country’s PM claims app inciting violence and bullying
AI and crypto drove gains in this year’s top 5 tech stocks
Trump White House will be like ’24/7 bar-room brawl’, warns former ambassador to US