Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4 (Bloomberg)

Wall Street Journal:
A look at Apple’s efforts to reduce dependence on Foxconn; sources: Apple wants other suppliers in China, Vietnam, and India to actively plan product assembly  —  Burned by Covid lockdowns and worker protests at Foxconn plants, the iPhone maker is looking to diversify the supply chain that has powered its growth

Meg Shen / Reuters:
Foxconn’s Xingwei agrees to sell its entire stake in embattled Chinese chip conglomerate Tsinghua Unigroup for ~$771.79M  —  Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, said on Friday its subsidiary in China has agreed to sell entire equity stake in embattled Chinese chip conglomerate Tsinghua Unigroup.

Zheping Huang / Bloomberg:
Kuaishou reports Q3 revenue up 12.9% YoY to ~$3.2B, beating estimates, and a ~$378M net loss, holding its own against ByteDance and China’s slowing economy  —  Kuaishou Technology’s revenue beat estimates, holding its own against a slowing Chinese economy and competition from TikTok owner ByteDance Ltd.

TechCrunch:
Indian conglomerate Vedanta and Foxconn sign a $20B deal to build a semiconductor unit in the coastal Gujarat state, home to Prime Minister Narendra Modi  —  Indian oil-to-metals conglomerate Vedanta and global manufacturing giant Foxconn have signed a memorandum of understanding …

Reuters:
TSMC reports Q4 revenue up 26.7% YoY to $19.93B and net income up 78% YoY to $9.72B, beating estimates of ~$9.5B, even as the chip industry downturn continues  —  Taiwanese chipmaker TSMC (2330.TW) reported a forecast-beating 78% rise in quarterly profit on Thursday, as strong sales …

Nivedita Balu / Reuters:
Shopify reports Q3 revenue rose 22% YoY to $1.4B, above $1.34B estimates, and GMV grew 11% YoY to $46.2B; shares jump 7%+  —  Shopify Inc (SHOP.TO) beat Wall Street estimates for quarterly revenue on Thursday, as businesses stuck to the Canadian online services provider’s tools and payment options to scale up.