Foxconn Earnings Surge as AI Demand Fuels Record Q3 Revenue
Foxconn Revenue Hits Record High
Taipei: Taiwan's Foxconn, the world's largest contract electronics maker, reported a remarkable surge in revenue for Q3, attributed largely to the soaring demand for artificial intelligence (AI) servers. The company's revenue jumped 20.2% year on year to T$1.85 trillion ($57.3 billion), exceeding its original expectations and analysts' forecasts.
Strong Growth in AI and Consumer Electronics
The robust performance in Foxconn's cloud and networking products division, largely driven by strong AI chip demand from customers like Nvidia, underpins this impressive revenue growth.
- Quarter-on-Quarter Growth: New product launches contributed significantly to the revenue spike.
- Year-on-Year Performance for iPhones: Remained flat despite the overall quarter-on-quarter improvement.
Outlook for Upcoming Quarters
As the peak season approaches, Foxconn anticipates continued momentum, with September revenue reaching T$733 billion, up 10.9% year on year.
- Q3 earnings report set for November 14.
- Annual Tech Day scheduled for October 8-9.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.