TAIPEI Nov 13 Taiwan's Hon Hai Precision
Industry Co Ltd posted a better-than-expected net
profit in the third quarter amid efforts to move away from the
lower-value electronics contract manufacturing business.
Hon Hai said in a statement on Wednesday net profit in
July-September was T$30.75 billion ($1.04 billion), higher than
a median forecast of T$25.99 billion by 13 analysts polled by
Thomson Reuters I/B/E/S.
The figure compared with a net profit of T$16.98 billion in
the previous quarter and T$30.26 billion a year earlier.
Operating profit margin improved by 1.36 percentage points
from the previous quarter to 3.46 percent. The margin in the
same year earlier period was 3.4 percent.
The Taiwanese company, better known by its trading name
Foxconn, is building an integrated service package ranging from
electronic devices to apps to cloud computing as it strives to
become more consumer-driven.
($1 = 29.5755 Taiwan dollars)
(Reporting by Clare Jim; Editing by Ryan Woo)