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Apple supplier Foxconn's Q1 profit jumps 72% y/y, misses forecasts
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Apple supplier Foxconn's Q1 profit jumps 72% y/y, misses forecasts
May 13, 2024 11:47 PM

TAIPEI, May 14 (Reuters) - Apple ( AAPL ) supplier

Foxconn reported on Tuesday a 72% rise in

first-quarter profit, boosted by strong demand for computer

servers and coming off a low base from the period a year

earlier.

The Taiwanese company, the world's largest contract

electronics maker, said net profit for the January-March quarter

rose to T$22.01 billion ($679 million) from T$12.8 billion in

the same period the previous year.

The profit missed analysts' estimate of T$29.31 billion.

($1 = 32.4180 Taiwan dollars)

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