Revenue in January reached a report excessive, at T$660.4 billion ($22 billion), with operations returning to regular and shipments rising at its Zhengzhou campus in China, a centre for iPhone manufacturing, the corporate mentioned in a press release.
Compared to the earlier month, income was up 4.93% with good shopper electronics merchandise, which incorporates smartphones, and computing merchandise displaying robust double-digit progress, it mentioned.
Production of iPhones confronted disruption forward of Christmas and January’s Lunar New Year holidays, after curbs to manage Covid-19-19 prompted hundreds of staff to go away Foxconn’s manufacturing facility traces in Zhengzhou.
Analysts say Foxconn assembles round 70% of iPhones, and the Zhengzhou plant produces the vast majority of its premium fashions together with the iPhone 14 Pro.
“Based on market consensus for first quarter 2023, January revenue came in slightly ahead. The outlook for the first quarter will likely reach market expectation,” Foxconn mentioned with out elaborating.
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Analysts count on first-quarter income to develop by round 4% year-on-year, in line with Refinitiv.Apple on Thursday forecast its income would fall for a second quarter in a row however that iPhone gross sales have been doubtless to enhance as manufacturing had returned to regular in China after the Covid-19-related shutdowns.
Foxconn shares have slid 0.3% to date this 12 months, underperforming the broader Taiwan market which is up 10.4%.
The firm studies fourth quarter earnings, the place it would additionally elaborate on its outlook, on March 15.