Hon Hai Climbs Most in 2 Months as IPhone Drives Profit Rise
- Operating profit climbed 22 percent, beating estimates
- Hon Hai gets half its revenue from supplying to Apple
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Hon Hai Precision Industry Co. climbed the most in more than two months after profit beat analyst estimates on improved efficiency and continued demand for Apple Inc. devices.
Shares rose 2.7 percent Tuesday in Taipei to NT$85, the biggest single-day gain since Sept. 9. A day earlier, the company said third-quarter net income climbed 11 percent to NT$37.9 billion ($1.2 billion).