Foxconn shares rise more than 5% after Q4 profit beats market estimates
Foxconn on Thursday reported a forecast-beating 33% jump in net profit for the fourth quarter and said it expected a significant rise in revenue this year.
of Apple supplier rose more than 5% early on Friday after reporting a day earlier a fourth-quarter that beat expectations and forecasting a bullish outlook for this year due to booming demand for AI servers.Foxconn on Thursday reported a forecast-beating 33% jump in net profit for the fourth quarter and said it expected a significant rise in revenue this year.
Shares of Foxconn, formally called Hon Hai Precision Industry Co Ltd, rose on Friday, compared with a 0.5% fall in the broader market.
Source: Stocks-Markets-Economic Times
