TAIPEI (Reuters) -Taiwan’s Foxconn (SS:), the world’s largest contract electronics maker, beat expectations to publish its highest-ever income for the fourth quarter on continued sturdy demand for synthetic intelligence (AI) servers.
Income for Apple (NASDAQ:)’s largest iPhone assembler jumped 15.2% to T$2.13 trillion ($64.72 billion), Foxconn stated in an announcement on Sunday.
It was additionally forward of a T$2.1 trillion LSEG SmartEstimate, which provides higher weight to forecasts from analysts who’re extra constantly correct.
Strong AI server demand led to sturdy income progress for its cloud and networking merchandise division, stated Foxconn, whose clients embody AI chip agency Nvidia (NASDAQ:).
For sensible shopper electronics, which incorporates iPhones, there was “roughly flattish” year-on-year progress, it stated.
Complete (EPA:) income in December alone reached T$654.8 billion, up 42.3% 12 months on 12 months and the second-highest ever degree for the month.
“In the first quarter of 2025, overall operations have gradually entered the traditional off-season,” Foxconn stated of its outlook for the present quarter.
“Even with record high revenue in the fourth quarter of 2024, the sequential performance of the first quarter will reach roughly similar levels that are average to the past five years; compared with a year ago, it should show significant growth.”
The corporate, formally referred to as Hon Hai (TW:) Precision Trade, didn’t elaborate. It doesn’t present numerical forecasts.
Foxconn’s shares jumped 76% final 12 months, outperforming by far a 28.5% rise for the broader Taiwan market. They closed down 0.8% on Friday forward of the income knowledge launch, in contrast with a 0.3% achieve for the benchmark index.
The corporate will report its full fourth-quarter earnings on March 14.
($1 = 32.9120 Taiwan {dollars})
