Out in Front

Foxconn posts increased June revenue

Ninelu Tu, Taipei; Steve Shen, DIGITIMES Asia 0


Foxconn Electronics (Hon Hai Precision Industry) has reported better-than-expected performance for June, driven by brisk sales of its cloud computing, networking devices, PC products and structural components.

Its June revenue came to NT$526.2 billion (US$17.7 billion), up 5.7% sequentially and 31% on year.

In terms of individual products, sales of cloud products, networking devices, terminal-end PC systems, structural components, and items classified as other products all posted double-digit growth in June compared to the previous month.

Order pull-ins for server products continued their momentum in June, with its CSP (cloud service provider) clients in the US ramping up their orders significantly.

PC products were able to register double-digit growth in the month due mainly to an improvement of related supply chains in China thanks to the removal of virus-induced restrictive measures.

However, consumer electronics products and smart devices declined slightly in June due to a high base recorded in May and transitions of products at clients, Foxconn said.

Revenue for second-quarter 2022 amounted to NT$1.51 trillion, up 7.26% from the previous quarter and 11.3% from a year earlier. For January-June sales, revenue totaled NT$2.91 trillion, up 8.08% on year.

Regarding the prospects for third-quarter 2022, Foxconn said that it remains guardedly optimistic for the quarter but will keep an eye on the development of inflation. The order visibility for the third quarter this year will improve significantly compared to the same period a year earlier.

Meanwhile, Foxconn has revised its outlook upward for 2022, expecting its overall performance in the year will be better than the flat performance it forecast earlier.