Hon Hai Precision Industry Co., the world’s largest contract electronics maker, on Monday reported its highest ever consolidated revenue for June and the second quarter of 2022 thanks to solid demand for its main products.
Hon Hai, also known as Foxconn on the global market, which assembles Apple Inc’s iPads and iPhones, posted NT$526.196 billion (US$17.71 billion) in consolidated revenue for June, a 31.02 percent year-on-year increase and 2.33 percent growth from the previous month, according to Hon Hai.
Compared with May, Hon Hai said its cloud and networking products, computing products, components and other products, saw better than anticipated double-digit revenue growth in June.
On an annual basis, its four main business divisions — smart consumer electronics, cloud and networking technology, computing products, and components and other products — all posted robust double-digit revenue growth.
Hon Hai said its revenue from server shipments continued to rise in June due to strong demand from U.S.-based cloud service providers.
Meanwhile, as China’s restrictions imposed to contain COVID-19 outbreaks have gradually eased over the last month, supply chain issues improved significantly in June compared with May, giving a boost to sales of computing products, as well as components and other products, according to the company.
For the second quarter of the year, revenue totaled NT$1.51 trillion, up 11.3 percent from the same period last year and up 7.26 percent from the first quarter.
Compared with the first quarter, Hon Hai said its cloud and networking products in the second quarter posted double-digit revenue growth, while revenue from its computing products and smart consumer electronics also rose, according to the statement.
In the first half of this year, Hon Hai’s consolidated revenue totaled NT$2.919 trillion, up 8.08 percent from the same period last year and also the highest on record for the period.
All its four main business divisions posted growth in revenue for the first six months of the year from a year earlier, with cloud and networking products registering double-digit growth, according to the statement.
Looking ahead, Hon Hai said it is cautiously optimistic about its revenue performance in the third quarter, anticipating significant growth from the same period last year.
Hon Hai also raised its forecast for its business performance for the whole of 2022 from flat to improved, according to the statement.
Source: Focus Taiwan News Channel