Hon Hai’s Profit Beats Estimates With the Help of New iPhone
- Revenue barely changes as global smartphone market sputters
- Robots and other technology help boost output efficiency
This article is for subscribers only.
Hon Hai Precision Industry Co.’s quarterly earnings beat analysts’ estimates as it maintained a tight grip on costs amid the release of Apple Inc.’s latest iPhones.
Apple’s main gadgets assembler reported an 8.7 percent fall in net income to NT$34.6 billion ($1.1 billion) in the three months ended September, Taipei-based Hon Hai said Friday. That compares with the NT$33.8 billion average of analyst estimates compiled by Bloomberg. Sales were little changed NT$1.075 trillion.