Apple Laptop Maker’s Profit Halved After Chinese Plant Stumbles
- The Taiwanese company said recovery took longer than expected
- Workers at its Shanghai site revolted due to Covid lockdowns
This article is for subscribers only.
Apple Inc. MacBook assembler Quanta Computer Inc. said its Shanghai campus recovered from Covid-related disruptions more slowly than expected, halving its profit.
Net income for the second quarter came in at NT$3.96 billion ($132 million), down 50% and below the average estimate of NT$4.3 billion. Sales totaled NT$270.5 billion, versus average analyst estimate of NT$258.4 billion.