Foxconn cautiously optimistic about fourth-quarter revenue outlook

Foxconn (Hon Hai) is "cautiously optimistic" about its fourth-quarter revenue outlook after announcing record-breaking sales in September.

Foxconn said in a statement that it is "cautiously optimistic" about the outlook for the last three months of 2022. As for the full-year outlook for 2022, it is expected to be the same as the August legal meeting, and it is expected to be roughly unchanged from the original. growing up. "However, inflation, the pandemic, and supply chain dynamics still require close attention," Foxconn said.

Foxconn's revenue in September and the third quarter increased by 40.39% and 24.4% year-on-year, respectively, both hitting record highs and exceeding their own expectations. Revenue from smart consumer electronics, including its key smartphone business, showed strong double-digit growth in the third quarter, driven by new product launches and "smooth mass production," the company said, with Foxconn forecasting, third Revenue growth in consumer electronics, including smartphones, was flat in the quarter. Apple's new iPhone 14 series went on sale last month, and Foxconn's so-called "new products" are apparently talking about the new iPhone 14 series.

Foxconn's revenue in September was NT$822.3 billion (about 184.195 billion yuan), an increase of 83.18% month-on-month and 40.39% year-on-year, a new high for the same period in the past year. The revenue in the third quarter was NT$1,746.3 billion (about 391.171 billion yuan), an increase of 15.62% month-on-month and a year-on-year increase of 24.40%; the cumulative revenue in the first nine months of this year was NT$4,664.9 billion, a year-on-year increase of 13.66%, which were both record highs over the same period of the year.

Foxconn shares closed up 1.5% on Tuesday, underperforming the benchmark index (.TWII), which rose 2.1%. Foxconn shares are down 1.4 percent this year, and its market value is now $44.03 billion.

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