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STOCK FUTURES JUMP, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

IPhone Maker Hon Hai Posts 20% Quarterly Revenue Jump

Debby Wu and Cindy Wang
·1 min read

(Bloomberg) -- IPhone assembler Hon Hai Precision Industry Co. reported a 20% jump in second-quarter revenue as the pandemic continues to drive demand for electronics from Apple Inc. and other clients.

Revenue in the three months through June rose to NT$1.36 trillion ($48.7 billion), the Taiwanese manufacturer reported, versus estimates for NT$1.34 trillion.

The strong showing from the world’s largest contract electronics maker suggests demand for iPhones, gaming consoles and servers remains robust as consumers snatch up devices for remote work, home-schooling and entertainment needs. Companies are also spending on technology, expanding data-center infrastructure to better serve customers’ online activities.

Hon Hai also reported June sales of NT$401.6 billionIts year-to-date revenue came to NT$2.7 trillion

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Read more: Hon Hai Revenue Jumps 44% on Stay-at-Home Demand for Gadgets

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