Apple supplier Foxconn Q4 profit beats estimates

Taiwan’s Foxconn, the world’s largest contract electronics maker which counts technology giants such as Apple Inc among its major clients, reported a fourth-quarter profit on Wednesday that slightly beat market estimates.

Foxconn reported a net profit of T$44.4 billion ($1.55 billion) for October-December, down 3.4 percent compared with the year ago period, according to Reuters calculations based on company data.

That compared with the T$43.32 billion average of 10 analyst estimates compiled by Refinitiv.