TAIPEI (Reuters) - Taiwan’s Hon Hai Precision Industry shares fell 1.9 percent on Tuesday morning after its second quarter results missed analyst estimates.
Taiwan’s Foxconn <2317.TW,> the world’s top contract electronics maker and an Apple supplier, posted lower than expected quarterly net profit on Monday and extended a decline in profit to a second quarter in a row.
For the quarter ended June, Foxconn reported a net profit of T$17.49 billion ($567.25 million), versus T$17.9 billion a year ago. This was below a mean estimate of T$21.936 billion ($711.45 million) from nine analysts polled by Thomson Reuters I/B/E/S. It did not elaborate on its earnings.
Reporting by Taipei bureau and Jess Macy Yu; Editing by Sam Holmes