Foxconn's Q3 Margins Hit Multi-Year Highs as Apple (AAPL) Boosts Payments
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Today's EPS Names:
EGRX, VAXX, AFIB, More
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Hon Hai Precision Industry Co (Foxconn Electronics) reported gross margin expansion during its third-quarter, as payments from large customer Apple (Nasdaq: AAPL) increased.
According to data from the company, gross margin was 9.54 percent in the period, which is the highest level its been since the fourth-quarter of 2009. Operating margin of 3.43 percent was the best its been since the first-quarter of 2010.
The numbers come following Hon Hai reporting a 50 percent increase in net income to NT$30.3 billion at the end of October.
Apple, for its part, had gross margins of 40 percent in its latest quarter, which were the lowest reported since the first-quarter 2010.
Shares of Hon Hai last traded down 2.6 percent on the Taiwan exchange. Apple is also lower on the session, down about 0.3 percent early.
According to data from the company, gross margin was 9.54 percent in the period, which is the highest level its been since the fourth-quarter of 2009. Operating margin of 3.43 percent was the best its been since the first-quarter of 2010.
The numbers come following Hon Hai reporting a 50 percent increase in net income to NT$30.3 billion at the end of October.
Apple, for its part, had gross margins of 40 percent in its latest quarter, which were the lowest reported since the first-quarter 2010.
Shares of Hon Hai last traded down 2.6 percent on the Taiwan exchange. Apple is also lower on the session, down about 0.3 percent early.
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