Hong Kong's Foxconn Interconnect Technology H1 profit rises on cloud demand

Foxconn Interconnect Technology

10/08/2026 15:42

Overview
Hong Kong interconnect solutions maker's interim revenue rose 8.3% yr/yr to US$2.5 bln
Net profit for the period increased 26.3% yr/yr, driven by cloud segment demand
Company did not declare an interim dividend for the six months ended June 30, 2026

Outlook
Company expects cloud end market to remain a key growth driver
Company anticipates continued macroeconomic uncertainties to impact demand in 2026
Foxconn Interconnect Technology will adopt a prudent approach in consumer interconnects due to tight memory supply

Result Drivers
CLOUD SEGMENT DEMAND - Co said revenue from the cloud end market rose 55.8% due to increased server demand driven by AI and higher shipments of copper-based components
COMPONENT SHORTAGES - Co said revenue from consumer interconnects fell 20.6% due to shortages of upstream components such as memory chips
AUTO MARKET CONTRACTION - Co said revenue from auto mobility decreased 6.2% due to contraction in the U.S. electric vehicle market and adjustments by major customers

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$2.50 bln
 
H1 Net Income Attributable
 
$38 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Foxconn Interconnect Technology Ltd is HK$7.42, about 24.2% above its August 10 closing price of HK$5.98
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 23 three months ago

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-10/118b376d-76f7-42e5-89fd-14eadd9af04a.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)