By Kosaku Narioka
Foxconn Technology Group's fourth-quarter net profit fell 3.4% from a year earlier as revenue declined.
The Taiwanese electronics maker, formally known as Hon Hai Precision Industry Co., said Wednesday that net profit fell to 44.395 billion Taiwan dollars (US$1.55 billion) for the quarter ended December from NT$45.98 billion a year earlier. That narrowly beat the estimate of NT$43.66 billion net profit taken from a poll of analysts by S&P Global Market Intelligence.
Fourth-quarter revenue decreased 5.9% from a year earlier to NT$1.890 trillion.
Operating-profit margin improved to 2.79% from 2.56%.
Foxconn said it expects its cloud and components businesses to perform better in 2022 than they did last year.
Foxconn has said its revenue for the first two months of 2022 declined 0.1% from a high base a year earlier to NT$900.78 billion, supported by strong demand for cloud and networking products.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
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