Forex losses cut into Quanta’s Q3 profitability

APPLE:Quanta expects its notebook shipments to be flat or to decline mildly next year, with IDC attributing it to reduced MacBook order allocation

Taipei Times
Date: Nov 11, 2016
By: Lauly Li / Staff reporter

Quanta Computer Inc (廣達), which assembles Apple Inc’s MacBooks and Apple Watch, yesterday said that net profit fell 14 percent annually last quarter due to foreign-exchange losses of NT$1.12 billion (US$35.46 million) .

Net income was NT$3.95 billion last quarter, compared with NT$5.83 billion a year earlier, but expanded 13 percent from the previous quarter’s NT$3.5 billion, company data showed.

“The appreciation of the New Taiwan dollar against the US dollar eroded the company’s profitability last quarter,” Quanta chief financial officer Elton Yang (楊俊烈) told a press conference at the company’s headquarters in Linkou District (林口), New Taipei City.    [FULL  STORY]

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