“Foxconn Reports Record Revenue Thanks to High AI Demand”
TAIPEI, January 5 (Reuters) – Foxconn (2317.TW), which starts in a new tab, is the biggest contract electronics manufacturer in the world. It made more money than expected in the fourth quarter, thanks to strong demand for artificial intelligence (AI) servers.Apple’s (AAPL.O) biggest iPhone builder saw sales rise 15.2% to T$2.13 trillion ($64.72 billion), Foxconn said in a statement on Sunday.It was also higher than a T$2.1 trillion LSEG SmartEstimate, which gives more weight to predictions made by analysts who are more likely to be right.
Foxconn disclosed that its cloud and networking products division experienced substantial revenue growth as a result of the robust demand for AI servers. The company’s clientele includes Nvidia (NVDA.O), an AI processor vendor.“There was “approximately flattish” year-on-year growth in smart consumer electronics, which includes iPhones,” it stated.In December, the total revenue surged to T$654.8 billion, the second-highest level ever for the month and a 42.3% increase year over year.“In the first quarter of 2025, overall operations have gradually entered the traditional off-season,” Foxconn said about the current quarter.
“Even with record high revenue in the fourth quarter of 2024, the sequential performance of the first quarter is expected to reach roughly similar levels that are average to the past five years; compared with a year ago, it should show significant growth.”The company, which is officially known as Hon Hai Precision Industry, didn’t say anything else. It doesn’t give you numbers to work with.Last year, Foxconn’s shares surged by 76%, surpassing the 28.5% increase in the Taiwan market (.TWII), which opens in a new tab. On Friday, before the revenue figures came out, they closed down 0.8%, while the benchmark index went up 0.3%.On March 14, the company will report its full fourth-quarter numbers.
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