{"id":799413,"date":"2022-08-10T11:25:22","date_gmt":"2022-08-10T11:25:22","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2022\/08\/10\/apple-supplier-foxconns-q2-profit-up-12-on-cloud-demand\/"},"modified":"2022-08-10T11:25:22","modified_gmt":"2022-08-10T11:25:22","slug":"apple-supplier-foxconns-q2-profit-up-12-on-cloud-demand","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2022\/08\/10\/apple-supplier-foxconns-q2-profit-up-12-on-cloud-demand\/","title":{"rendered":"Apple supplier Foxconn&#8217;s Q2 profit up 12% on cloud demand"},"content":{"rendered":"<p>Apple Inc supplier Foxconn reported on Wednesday a 12% jump in second-quarter net profit, beating market estimates, helped by strong demand for its cloud computing products.<\/p>\n<p>The Taiwanese company, the world&#8217;s largest contract electronics maker, said net profit for the April-June quarter rose to T$33.29 billion from T$29.78 billion a year earlier.<\/p>\n<p>Eleven analysts were expecting, on average, a profit of T$31.02 billion, according to Refinitiv.<\/p>\n<p>The company, like other global manufacturers, has grappled with a severe shortage of chips that has squeezed smartphone production and, more recently, a downturn in major markets amid high inflation and the war in Ukraine.<\/p>\n<p>Foxconn shares closed 0.9% higher ahead of the earnings release, versus a 0.7% drop in the broader market. They have risen 5.8% so far this year, giving the company a market value of $50.3 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple Inc supplier Foxconn reported on Wednesday a 12% jump in second-quarter net profit, beating market estimates, helped by strong demand for its cloud computing products. The Taiwanese company, the world&#8217;s largest contract electronics maker, said net profit for the April-June quarter rose to T$33.29 billion from T$29.78 billion a year earlier. Eleven analysts were expecting, on average, a profit of T$31.02 billion, according to Refinitiv. The company, like other global manufacturers, has grappled with a severe shortage of chips that has squeezed smartphone production and, more recently, a downturn in major markets amid high inflation and the war in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-799413","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799413"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799413\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}