Earnings per share Foxconn fell to the lowest in 12 quarters level
Foxconn Electronics, the largest contract manufacturer of electronic products and the main manufacturing partner of Apple, has published a report for the second quarter of 2016. Earnings per share-defined as net profit available for distribution to the annual average number of common shares and describing investment attractiveness and efficiency of the company for the quarter was the lowest for the period beginning with the third quarter of 2013.
Foxconn’s consolidated revenue for the three months totaled approximately $ 29 billion, operating profit of 0.66 billion dollars, and net profit of 0.56 billion dollars. Profitability decreased to 6.02%. In the previous quarter it was equal to 7.05 percent a year ago — 7,20%.
As we previously reported, the Chinese antitrust agencies approved the deal between Foxconn and Sharp, estimated at $ 3.8 billion. Following the deal, Foxconn will receive a 66% stake in Sharp, hoping not only to gain control over the Japanese producer and the access to advanced technologies for the production of liquid crystal displays, but also strengthened due to this connection with its main customer.