iPhone 12 supplier surprises analysts with second quarter profit
(iMore iPhone)

Foxconn reported a net profit of T$22.9 billion, 5 billion higher than a consensus estimate from analysts. What you need to know Foxconn has posted its financial results for Q2. The Apple supplier earned a lot more money than analysts expected. Demand for products has been spurred by the pandemic. Apple`s main iPhone supplier has posted net profit of T$22.9 billion for the second quarter of 2020, beating a consensus estimate from analysts by more than T$5 billion. As Reuters reports: Foxconn, the world`s largest contract electronics manufacturer (2317.TW), reported a better-than-expected quarterly profit on Wednesday, as rising telecommuting demand amid the coronavirus pandemic offset slowing smartphone sales. Foxconn, whose clients include tech giants such as Apple AAPL.0, reported a net profit of T$22.9 billion ($778.54 million) for the second quarter ended June. The bumper result marks a 34% year-on-year increase and is well above analysts` predictions of T$17.9...