Foxconn Industrial Internet Second Quarter 2024 Earnings: Beats Expectations

Foxconn Industrial Internet (SHSE:601138) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥147.4b (up 46% from 2Q 2023).
• Net income: CN¥4.55b (up 13% from 2Q 2023).
• Profit margin: 3.1% (down from 4.0% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.23 (up from CN¥0.20 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Foxconn Industrial Internet Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China.

Performance of the Chinese Electronic industry.

The company's shares are down 8.9% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Foxconn Industrial Internet that we have uncovered.

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