Foxconn Reports July Sales Decline, Expects Q3 Increase
TAIPEI – Foxconn's revenue declined 1.23% year-over-year in July, but it expects third-quarter sales to rise sequentially and be higher than the average level of the past two years.
The company reported July of NT469.2 billion ($14.82 billion) aided by double-digit growth in cloud and networking products and smart consumer electronics products.
Components and other products rose single-digits, while continued weakness in the PC market resulted in a slight decline year-over-year for computing products, Foxconn said.
Looking to the third-quarter, the company said operations will gradually ramp up and the outlook for the period will be better than the second quarter and is expected to increase at an on-quarter pace higher than the average level of the previous two years.
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