Shares of Taiwan's Foxconn fall more than 2% after monthly revenue dip
06/03/2020 02:02
TAIPEI, March 6 (Reuters) - Shares of Apple's manufacturing
partner Foxconn 2317.TW slumped more than 2% on Friday after
the company reported its biggest monthly drop in revenue in
seven years as the coronavirus outbreak hurts its bottom line.
The company, which assembles smartphones for tech giants
including Apple's iPhones, saw revenue sink 18.1% in February
year-on-year - the steepest monthly fall since March 2013 and
the third straight month of decline. urn:newsml:reuters.com:*:nL4N2AY21W
The world's top contract electronics maker has warned the
coronavirus epidemic would hit its business in the first quarter
but said revenue would recover thereafter as production returns
to normal in virus-hit China. urn:newsml:reuters.com:*:nL4N2AW1WF
(Reporting By Yimou Lee
Editing by Shri Navaratnam)
((yimou.lee@thomsonreuters.com; +886-2-8729-5122;))