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Apple supplier Foxconn’s Q3 profit beats estimates -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The annual general meeting was held in Taipei’s Foxconn office on June 23rd 2020. REUTERS/Ann Wang

TAIPEI (Reuters:) Taiwan’s Foxconn reported a stronger-than-expected 3Q profit Friday. The company, which assembles iPhones (NASDAQ :), was helped by strong demand from consumers as people continue to work remotely in the wake of the coronavirus epidemic.

Foxconn (the world’s biggest contract electronics manufacturer) reported T$36.98 Billion ($1.33 Billion) in July-September profit, up 20% compared to the year before, it said.

The consensus Refinitiv estimate was T$31.73 trillion, based on 12 forecasts.

($1 = 27.8280 Taiwan dollars)

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