Apple Inc. AAPL supplier Hon Hai Precision Industry Co. Ltd. HNHPF, operating as Foxconn, said the company is cautiously optimistic about the outlook for the fourth quarter.
What Happened: The company said the dynamics of inflation, the pandemic, and the supply chain still need to be closely monitored, and added that the outlook for the entire year has been maintained as stated in the earnings call in August.
It was revised upward to growth from flattish expectation at the time.
Record Revenues: The company had a record third quarter revenue of NT $1,746. 3 billion $55 billion were up 24.4% year-on- year, which it said exceeded its own expectations.
The shares of Foxconn traded 1.49% higher on Tuesday.
A report said that the fourth quarter is usually the hot season for Taiwanese tech companies as they try to supply phones, tablets and other electronics for the year-end holiday period in Western markets.
Read Next: Apple Supplier Foxconn To InvestFoxconn To Invest $300 Million In Vietnam Facility, Expand Production Outside China