By Kosaku NariokaFoxconn Technology Group's net profit in the first nine months of the year rose 70% from a low base a year earlier thanks to higher revenue. The Taiwanese electronics maker, formally known as Hon Hai Precision Industry Co., said on Friday net profit rose to 94.92 billion new Taiwan dollars (US$3.41 billion) for the nine-month period ended Sept. 30. That compared with net profit of NT$55.82 billion for the same period a year earlier, when the Covid-19 pandemic disrupted its operations. Foxconn's third-quarter net profit was NT$36.98 billion, given a net profit of NT$57.94 billion for the first half, according to a Wall Street Journal calculation. The quarterly net profit beat an estimate of NT$32.60 billion from a FactSet poll of analysts.

Source: Wall Street Journal November 12, 2021 10:37 UTC