Profits of the Chinese assembler of MacBooks Quanta were cut in half due to another quarantine ban imposed in China in connection with a new outbreak of coronavirus infection. This was reported by Bloomberg, referring to company representatives.
Quanta's main production site in Shanghai is recovering from the quarantine much more slowly than expected. And it ended up cutting profits in half. The company's net profit in the second quarter of 2022 was NT$3.96 billion (about $132 million), about 50% of the average analyst forecast of NT$4.4 billion.
As a reminder, Apple's contractor announced in April that its Shanghai plant had suspended operations following restrictions imposed by the local government due to the new COVID-19 outbreak. That same month, the company was allowed to resume closed-loop operations, but the restart was hampered by supply chain disruptions and staff shortages. As a result, the company was unable to resume operations at the end of June. As a result, according to Quanta, financial results for the last quarter were disappointing.
