Apple supplier Foxconn's Q2 profit up nearly 12%

Apple Inc supplier Foxconn reported on Wednesday an 11.7% rise in second-quarter net profit, according to Reuters calculations, beating market estimates.

The Taiwanese company, the world's largest contract electronics maker, said net profit for the April-June quarter rose to T$33.25 billion from T$29.78 billion a year earlier.

Eleven analysts were expecting on average profit of T$31.02 billion, according to Refinitiv.