TAIPEI (Taiwan News) — Foxconn reported Thursday a Q1 net profit of NT$49.92 billion (US$1.58 billion) on Wednesday, up 10% from the previous quarter and 19% from a year earlier.
The company said gross margin, operating margin, and net margin all improved, per Anue. Q1 revenue was NT$2.12 trillion, down 19% from the previous quarter due to seasonal factors but up 29% year-over-year, per CNA.
Gross margin rose to 6.18%, up 0.3 percentage points from the fourth quarter and slightly higher than a year earlier. Operating profit reached NT$75.65 billion, with the operating margin improving to 3.57% from 3.28% in the previous quarter.
Net margin climbed to 2.36%, up 0.62 percentage points, though slightly lower than a year earlier. Foxconn said Q1 non-operating losses narrowed from the previous quarter but swung from gains recorded a year earlier due to weaker investment income and foreign exchange losses.
Foxconn said performance across most major product segments met expectations. Computing products outperformed forecasts, while cloud and networking products came in slightly below expectations due to changes in revenue recognition methods that did not affect profitability.
Cloud and networking products remained the company’s largest revenue contributor at 48%, followed by smart consumer electronics at 33%. Computing products accounted for 14% of revenue, while components and other businesses contributed 5%.
