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Hon Hai Precision Industry Q2 profit climbs 18.2% YOY

Hon Hai Precision Industry Co., Ltd. said its second-quarter normalized net income came to NT$1.38 per share, compared with the S&P Capital IQ consensus estimate of NT$1.45 per share.

EPS rose 17.7% year over year from NT$1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$23.88 billion, a gain of 18.2% from NT$20.19 billion in the year-earlier period.

The normalized profit margin climbed to 2.5% from 2.3% in the year-earlier period.

Total revenue climbed 10.6% year over year to NT$972.71 billion from NT$879.09 billion, and total operating expenses climbed 10.4% year over year to NT$939.60 billion from NT$851.16 billion.

Reported net income grew 26.9% year over year to NT$25.63 billion, or NT$1.48 per share, from NT$20.19 billion, or NT$1.17 per share.

As of Aug. 14, US$1 was equivalent to NT$32.12.