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Hon Hai’s Q3 revenue hits NT$1.85T milestone

Reporter TVBS News Staff
Release time:2024/11/14 16:59
Last update time:2024/11/14 17:33
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Hon Hai reports strong Q3 results (Shutterstock) Hon Hai’s Q3 revenue hits NT$1.85T milestone
Hon Hai reports strong Q3 results (Shutterstock)

TAIPEI (TVBS News) — Hon Hai Precision Industry Co. (鴻海) reported robust financial results for the third quarter on Thursday (Nov. 14), revealing consolidated revenue of NT$1.85 trillion and a net profit of NT$49.325 billion. The figures represent a 41% increase from the previous quarter and a 14% rise year-over-year, with earnings per share at NT$3.55.

The company's cumulative revenue for the first three quarters reached NT$4.7 trillion, with a net profit of NT$106.379 billion, marking a 19.6% year-over-year increase. These achievements set new records for the same period historically, with basic earnings per share standing at NT$7.67.

 

David Huang (黃德財), Hon Hai's chief financial officer, attributed the third-quarter growth to the company's competitive operational scale, which positively impacted gross, operating, and net profit margins despite product mix influences.

Looking ahead to the fourth quarter, Chairman Young Liu (劉揚偉) expressed optimism, anticipating strong quarter-over-quarter growth in consumer smart products due to traditional peak season demand. Liu highlighted the AI server sector, noting that revenue more than doubled compared to the previous year, with general server revenue also growing over 20%.

In response to concerns about the impact of Donald Trump's U.S. presidential election victory on Hon Hai's global strategy, Liu emphasized that as a multinational corporation, the group focuses on investment policies, environmental factors, and business opportunities rather than the election itself.

Taiwan Business

#Hon Hai# financial results# third quarter# revenue growth# net profit# earnings per share# AI server sector# Hon Hai Precision Industry Co. financial performance# Hon Hai quarterly earnings# Hon Hai global strategy

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