Foxconn has reported record breaking financial results for the second quarter. The electronics contract manufacturer pulled in NT$2.51 trillion ($78.43 billion) in revenue, driven by surging market demand. However, the company must now maintain this momentum to meet its ambitious growth targets for the rest of the year.
The financial performance represents an increase of 18.02% quarter over quarter and a massive 39.83% jump year over year. Net profit also reached a record high of NT$59.974 billion ($1.87 billion), showing a 20% increase from the previous quarter and a 35% rise compared to the same period last year. These gains translated to earnings per share of NT$4.27 for the 3 month period.
For the first half of the year, the electronics giant accumulated a net profit of NT$109.893 billion ($3.43 billion), marking a 27% increase year over year. Total earnings per share for the first 6 months stood at NT$7.84. These numbers show that Foxconn has managed to keep its margins healthy despite shifting global economic pressures during the investor conference held today.
Looking ahead to the third quarter, the manufacturer predicts a sharp increase quarter over quarter and strong performance year over year. Foxconn executives also expect full year earnings to outpace the previous annual cycle by a wide margin. Investors will likely watch the next earnings report closely to see if the company can deliver on these highly optimistic forecasts.
