Foxconn's First Quarter Revenue Declines 9.6% but Expects Growth in Second Quarter

Foxconn Forecasts Revenue Growth Despite First Quarter Dip

Following a 9.6% dip in revenue during the first quarter of 2024, Foxconn, also known as Hon Hai Precision Industry, reported a revenue of 1.32 trillion New Taiwan dollars ($41.2 billion). Compared to the previous quarter, this figure marked a 28.58% decrease, falling short of economists' expectations in an LSEG poll.

Optimistic Outlook for Second Quarter

Despite the challenging start to the year, Foxconn remains optimistic about the second quarter, anticipating a growth in revenue. The company acknowledges the current period as a traditional off-peak season, but looks forward to a positive turnaround in the coming months.