Foxconn reports second quarter revenue of $48.7B, up 20% year-over-year

article thumbnail

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content.

Foxconn's revenues in the second quarter of 2021 were up 20% year-over-year because of continued elevated demand of the iPhone and other consumer devices.

According to Bloomberg, Hon Hai Precision Industry Co, which trades as Foxconn, reported quarterly revenue of $48.7 billion in the three months through June 2021.

The 20% increase in the second quarter follows another quarterly jump in the first. In the first quarter of 2021, Foxconn reported earnings of $47 billion, up 44% year-over-year.

However, Foxconn's surge in 2021 comes a year after a severe profit drop because of the coronavirus pandemic.

The recovery suggests that demand for products that enable at-home work, education, and entertainment remains strong even as health restrictions ease and vaccination rates climb in many parts of the world. In addition to consumer spending on iPhones and other devices, enterprise business customers are also expanding data center infrastructure.

Foxconn is currently seeing issues with chip component supply, something that the company has said could impact its revenues into 2022.

Keep up with everything Apple in the weekly AppleInsider Podcast — and get a fast news update from AppleInsider Daily. Just say, "Hey, Siri," to your HomePod mini and ask for these podcasts, and our latest HomeKit Insider episode too.

If you want an ad-free main AppleInsider Podcast experience, you can support the AppleInsider podcast by subscribing for $5 per month through Apple's Podcasts app, or via Patreon if you prefer any other podcast player.