Hon Hai profit rises 15.3 pct to T$42.6 bln; beats estimates

TAIPEI, March 28 Fri Mar 28, 2014 5:15pm IST

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TAIPEI, March 28 (Reuters) - Taiwan's Hon Hai Precision Industry Co Ltd, the world's largest contract manufacturer of electronic devices, beat analyst estimates with a 15.3 percent rise in quarterly profit, boosted by record sales of client Apple Inc's iPhones and iPads.

October-December net profit reached T$42.6 billion ($1.40 billion) from T$37.0 billion a year earlier, according to company figures released Friday.

The result compared with the T$40.1 billion mean estimate of 13 analysts polled by Thomson Reuters.

Shares of Hon Hai closed flat before the earnings release, in line with in the benchmark index. ($1 = 30.5315 Taiwan Dollars) (Reporting by Michael Gold. Editing by Jane Merriman)

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