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Hon Hai's Q2 profit drops 2.50% YOY

Hon Hai Precision Industry Co. Ltd., a Taiwanese electronics-maker and supplier to Apple Inc., reported a 2.50% drop in net income in the second quarter.

The company on Aug. 13 reported net income attributable to the parent of NT$17.05 billion, or NT$1.22 per share, as compared to year-ago income of NT$17.49 billion, or NT$1, in the year-ago quarter.

The S&P Global Market Intelligence GAAP EPS consensus estimate for the quarter was NT$1.15.

Quarterly revenue totaled NT$1.160 trillion, up by 7.44% year over year from NT$1.079 trillion in the second quarter in 2018.

As of Aug. 12, US$1 was the equivalent of NT$31.46.