Shulou(Shulou.com)11/24 Report--

CTOnews.com October 4, Reuters reported that Foxconn (Hon Hai) is "cautiously optimistic" about its revenue outlook for the fourth quarter after reporting record-breaking sales results in September.

Foxconn said in a statement that it was "cautiously optimistic" about its prospects for the last three months of 2022, and that its full-year outlook for 2022, the same as that explained in August, would be raised from roughly flat to growth. Foxconn said: "However, inflation, epidemic and supply chain dynamics still need to be closely monitored. "

Foxconn's revenue rose 40.39% in September and 24.4% in the third quarter from a year earlier, both hitting record highs and exceeding its own expectations. The company said revenue from smart consumer electronics, including its key smartphone business, showed strong double-digit growth in the third quarter due to new product launches and "smooth mass production." Foxconn had forecast flat revenue growth for consumer electronics, including smartphones, in the third quarter. Apple's new iPhone 14 series went on sale last month, and Foxconn's so-called "new product" is obviously referring to the new iPhone 14 series.

Foxconn's September revenue was NT $822.3 billion (about RMB 184.195 billion), up 83.18% month-on-month and 40.39% year-on-year, a record high for the same period over the years. Revenue in the third quarter was NT $1746.3 billion (about RMB 391.171 billion), up 15.62% month-on-month and 24.40% year-on-year; cumulative revenue in the first nine months of this year was NT $466.49 billion, up 13.66% year-on-year, both of which were new highs over the same period of the year.

CTOnews.com understands Foxconn shares closed up 1.5 percent Tuesday, underperforming the benchmark index (.TWII), which rose 2.1 percent. Foxconn shares are down 1.4% this year and currently have a market cap of $44.03 billion.

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