TAIPEI -- Key iPhone assembler Foxconn delivered better-than-expected quarterly earnings on March 29, defying slowing sales of the smartphone as its network equipment business grew.
The Taiwanese contract manufacturer's gross profit margin rose 0.9 percentage point on the year to 7%, while its operating margin increased 1.68 points to 3.55%. Both figures are the highest since the first quarter of 2017, and the margins beat the market consensus of 6.1% and 2.2%, respectively.
