Hon Hai Q1 Net Profit Up 3.6%

Hon Hai Precision Industry Co

reported a 3.6% rise in its first-quarter net profit. Hon Hai's quarterly net profit climbed to NT$14.92 billion, from NT$14.40 billion, in the year-ago period. However, analysts were expecting a net profit of NT$22.10 billion. Its operating expenses surged 12% to NT$758.18 billion from NT$676.42 billion. Hon Hai's quarterly revenue surged 8.3% to NT$789.94 billion from NT$729.26 billion. Hon Hai dropped 1.03% to close at $7.10 on Friday.