iPhone assembler Foxconn posts record April sales
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The news: Taiwan's Foxconn, the world's largest contract electronics maker and the biggest assembler of Apple's iPhone, has reported record sales for April and reiterated an expected rise in second-quarter revenue.
The numbers: April revenue reached T$510.9 billion ($24 billion), a 19% increase from a year ago and the company’s highest figure on record for the same period. Previously, revenue for the first quarter slid 9.6% year-on-year to T$1.322 trillion.
The context: The monthly sales data comes ahead of Foxconn's first-quarter earnings call on May 14. It said revenue in its smart consumer electronics products, including smartphones, in April showed "significant growth" year on year.
Strong artificial intelligence server demand also delivered "strong growth" in April on-year for its cloud and networking products segment.
The tech manufacturer reiterated operations outlook for the second quarter is expected to show both quarter-on-quarter and year-on-year growth, but did not provide a numerical guidance. The first quarter is traditionally quieter than the previous one.
Last week, key customer Apple's quarterly results and forecast beat modest expectations and CEO Tim Cook said revenue growth would return in the current quarter.
The source: Reuters
