By Yifan Wang

Foxconn Technology Group, Apple Inc.'s biggest supplier, delivered better-than-expected earnings for the first quarter, even as China's pandemic resurgence forced the company to shut down some plants for days during that period.

Taiwan-based Foxconn, best known for assembling Apple's iPhones, said its January-March net profit rose 4.6% to 29.45 billion New Taiwan dollars (US$989.6 million), while revenue rose 4.5% to NT$1.408 trillion, it said Thursday. Both figures beat analyst estimates, according to FactSet data.

The world's biggest electronics contract manufacturer, formally known as Hon Hai Precision Industry Co., halted production at its Shenzhen factories for a week in March, when the Chinese city substantially tightened movement restrictions after detecting local infections.

Analysts have expected China's latest stringent pandemic curbs to have limited impact on Foxconn, as the majority of company's production facilities are located outside of Shanghai. The city has been subject to the strictest lockdown measures in China.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

05-12-22 0234ET