Hon Hai says Q2 results satisfactory

HEADWINDS: Delays in the launch of new mobile phones caused by the pandemic would affect Hon Hai’s core phone manufacturing business, CFO David Huang said

Taipei Times
Date:  Aug 13, 2020
By: Angelica Oung / Staff reporter

Hon Hai Precision Industry Co chairman Young Liu, center, presides over the company’s quarterly earnings conference at its headquarters in New Taipei City’s Tucheng District yesterday.
Photo: CNA

Hon Hai Precision Industry Co (鴻海精密) yesterday said that its second-quarter financial results met the company’s expectations and forecast that third-quarter revenue would be higher than the second quarter, but lower than a year earlier.

Net profit was NT$22.88 billion (US$774.5 million) last quarter, skyrocketing 998 percent from the previous quarter and rising 34 percent from a year earlier.

That translated into earnings per share of NT$1.65, up from NT$0.15 in the first quarter and NT$1.23 a year earlier.

Second-quarter revenue was NT$1.13 trillion, a 21 percent increase from the previous quarter, but a 3 percent decline from a year earlier.    [FULL  STORY]

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