By Kosaku Narioka

Foxconn Technology Group's net profit in the third quarter rose 20% from a year earlier, thanks to higher revenue and better margins.

The Taiwanese electronics maker, formally known as Hon Hai Precision Industry Co., said Friday that net profit for the quarter ended Sept. 30 rose to 36.98 billion new Taiwan dollars (US$1.33 billion) from NT$30.855 billion a year earlier. The quarterly net profit beat an estimate of NT$32.60 billion from a FactSet poll of analysts.

Third-quarter revenue increased 8.8% from a year earlier to NT$1.406 trillion. Operating-profit margin improved to 2.57% in the third quarter from 2.51% a year earlier.

Foxconn said it expected its consumer electronics, cloud and components businesses to perform better in the fourth quarter compared with the third quarter.

Foxconn's net profit in the first nine months of the year rose to NT$94.92 billion from NT$55.82 billion a year earlier.

Its nine-month revenue increased to NT$4.104 trillion from NT$3.349 trillion a year earlier.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

11-12-21 0427ET