Foxconn shares surge 9.5% after Q4 profit beats market estimates
The Star Online - Tech·2024-03-15 11:01
TAIPEI (Reuters) -Shares of Apple supplier Foxconn rose as much as 9.5% early on Friday to their highest in three years, a day after it reported a fourth-quarter profit that beat expectations and forecast a bullish outlook for this year due to booming demand for AI servers.
Foxconn, formally called Hon Hai Precision Industry Co Ltd, on Thursday reported a bigger-than-expected 33% jump in net profit for the fourth quarter and said it was also looking for a significant rise in revenue this year.
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