Taiwan's Foxconn shares drop more than 2% after quarterly profit miss
Reuters
Published May 14, 2019 09:17PM ET
Taiwan's Foxconn shares drop more than 2% after quarterly profit miss
TAIPEI (Reuters) - Shares of Foxconn, the world's largest contract manufacturer, dropped more than 2% on Wednesday after the company posted a lower-than-expected quarterly profit.
Foxconn, formally known as Hon Hai Precision Industry Co Ltd, reported a net profit of T$19.82 billion ($637.26 million) for the first three months of 2019, down 17.7% from the same period a year earlier.
The result lagged the T$24.84 billion average of eight analyst estimates compiled by Refinitiv.
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Written By: Reuters
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