March 31, 2018 / 4:57 AM / 7 months ago

BUZZ-Foxconn's shares drop after it reports weak fourth quarter profit

TAIPEI, March 31 (Reuters) - Shares of Taiwan’s Foxconn fell as much as 3.7 pct on Saturday morning, after it reported its fourth quarter results.

** Foxconn, known formally as Hon Hai Precision Industry Co, said net profit in the final three months of 2017 reached T$71.66 billion, up 4.2 percent from a year ago.

** That compared with the T$60.75 billion average of eight analyst estimates in a Thomson Reuters poll.

** Net profit in 2017 totalled T$138.7 billion, down 6.7 percent from a year earlier.

** Analyst said without the T$66 billion disposal gains from sales of Sharp’s special shares, Foxconn’s 4Q17 EPS would only be around T$1.44.

** AT 0441 GMT, Taiwan benchmark index edges up 0.16 percent

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