Apple supplier Foxconn third-quarter profit near flat, beats estimates

TAIPEI (Reuters) – Foxconn , the world’s largest contract electronics maker, reported near flat quarterly profit on Thursday, beating market estimates amid firm demand for telecommuting devices as the pandemic-induced work-from-home trend continues.

The Taiwanese company, whose clients include technology majors such as Apple Inc , booked July-September net profit of T$30.8 billion ($1.08 billion), Reuters calculations showed based on nine-month figures.

That compared with the T$28.61 billion average of 13 analyst estimates compiled by Refinitiv.

It did not elaborate on reasons behind the profit figure, which was near flat versus the T$30.7 billion booked in the same period a year prior.