TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and the largest assembler of Apple (NASDAQ:)’s iPhone, reiterated on Sunday it anticipated an increase in second-quarter income, and reported file gross sales for the month of April.Foxconn mentioned in an announcement that this 12 months’s second quarter “stays a standard off-peak season, and main merchandise are getting into a interval of transition between previous and new merchandise”.
Nevertheless it added: “The operations outlook for the second quarter is predicted to indicate each quarter-on-quarter and year-on-year progress”.
The assertion didn’t elaborate and the corporate doesn’t give numerical steering.
The corporate, formally known as Hon Hai Precision Trade Co Ltd, mentioned April income reached T$510.9 billion ($15.83 billion), which it mentioned was the best determine on file for a similar interval and represented an on-year rise of 19%.
Income in its sensible client electronics merchandise, together with smartphones, in April confirmed “important progress” year-on-year, it mentioned.
Sturdy synthetic intelligence (AI) server demand additionally delivered “sturdy progress” in April on-year for its cloud and networking merchandise section, the corporate added.
The month-to-month gross sales information comes forward of Foxconn’s first-quarter earnings name on Might 14.
Foxconn has beforehand reported that for the primary quarter, income slid 9.6% year-on-year to T$1.322 trillion, underperforming a T$1.401 trillion LSEG SmartEstimate, which supplies better weight to forecasts from analysts who’re extra constantly correct.
The primary quarter is historically quieter than the earlier one, the season when Taiwan’s tech corporations race to provide smartphones, tablets and different electronics to main distributors corresponding to Apple for Western markets’ year-end vacation interval.
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Apple’s quarterly outcomes and forecast beat modest expectations on Thursday, and CEO Tim Prepare dinner mentioned income progress would return within the present quarter.
In March, Foxconn adopted a much more bullish outlook for this 12 months, saying on its fourth-quarter earnings name that it anticipated a major rise in income pushed by booming demand for AI servers.
Foxconn’s shares have surged virtually 50% up to now this 12 months, in contrast with a 13% acquire for the broader market.
They closed up 1.3% on Friday.
($1 = 32.2800 Taiwan {dollars})