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Foxconn’s November Revenue Hits 650 Billion Yuan, Anticipates Strong Q4 Performance

Hon Hai reports November revenue of 650 billion yuan, marking a 12.3% monthly dip but a robust 17.95% yearly increase. Cumulative 11-month revenue is 5.6994 billion yuan, showing a 4.89% YoY decrease. The company expects Q4 performance to exceed earlier "significant growth" projections
Taiwan
f 2317.TW Blue Chip 150 Tech 350
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Hon Hai, also known as Foxconn, discloses a November revenue of 650 billion yuan, reflecting a 12.3% monthly decline but a noteworthy 17.95% year-on-year increase, the second-highest record for the same period in past years. Cumulatively for the first 11 months of the year, revenue stands at 5.6994 billion yuan, representing a 4.89% year-on-year decrease. The company notes that the fourth-quarter operating performance is anticipated to surpass initial expectations of “significant growth.”

Hon Hai attributes November’s performance to robust sales and stocking of components, computer terminal products, and consumer smart products during the holiday season and October. While the momentum slightly decreased for these three categories due to their elevated base period, cloud online products saw a marginal decline, influenced by conservative customer demand.

Consumer smart products witnessed substantial growth compared to last November, primarily due to the impact of the previous year’s epidemic in Zhengzhou, China. Components and other products benefited from increased consumer smart product supply, leading to concurrent growth in automotive electronic component shipments. Computer terminal products experienced a slight year-on-year decline due to a slowdown in the PC market, and cloud network products saw a marginal drop due to conservative customer demand. Hon Hai expects Q4 to outperform expectations, with the full-year revenue statement scheduled for release on the 5th of next month.

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