
Taipei, Aug. 10 (CNA) Hon Hai Precision Industry Co., the world's largest contract electronics maker, has reported record second quarter profit, helped by the strong performance of its cloud/networking and computing operations.
The company, known better as Foxconn globally, had net profit of NT$33.29 billion (US$1.11 billion) in the April-June period, up 12 percent from a year earlier and up 13 percent from a quarter earlier, it said in a statement issued Wednesday before an investor conference.
Also, earnings per share totaled NT$2.4 in the second quarter, compared with NT$2.15 in the same quarter in 2021 and NT$2.12 in the first quarter of 2022.
Hon Hai had consolidated sales of NT$1.51 trillion, up 12 percent from a year earlier and up 7 percent from a quarter earlier, helped by a more than 15 percent year-on-year rise in cloud/networking division sales and a 5-10 percent rise in computing division sales.
That sales growth exceeded the company's previous estimates, which had indicated that sales would stay little changed on year-on-year and quarter-on-quarter basis.
Hon Hai said its gross margin -- the difference between revenue and cost of goods sold -- rose 0.38 percentage points from a quarter and 0.37 percentage points from a year earlier to 6.4 percent.
Its net margin -- the difference between gross profit and total expenses, including interest payments and taxes -- hit 2.21 percent in the second quarter, compared with 2.09 percent in the first quarter earlier and 2.2 percent a year earlier.
In the first half of 2022, Hon Hai's net profit rose 8.3 percent from a year earlier to NT$62.7 billion, with EPS of NT$4.53, compared with NT$4.18 a year earlier, the company said.
The results were issued after the Taipei stock market closed for the day. The company's stock rose 0.92 percent to NT$110.00 in trading in Taipei on Wednesday.
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