Taiwan's Foxconn reports 35% rise in Q2 profit on AI demand, beats forecasts
Foxconn’s net profit reached T$59.97 billion, or $1.86 billion, as AI server demand lifted revenue and beat analyst estimates.
- Foxconn, officially Hon Hai Precision Industry, reported a 35% rise in second-quarter net profit to T$59.97 billion , beating analyst estimates of T$58.38 billion.
- The company's revenue grew 41% year-over-year to T$2.53 trillion for the April to June quarter.
- Foxconn has expanded beyond assembling iPhones to producing AI servers for Nvidia, electric vehicles, and robots.
- The surge in demand for AI infrastructure, driven by governments and tech giants building data centres, is credited for the growth, with forecasts of continued strong year-over-year growth.
31 Articles
31 Articles
AI trade surges on firms’ cloud earnings
Cloud provider CoreWeave’s stock surged 19% Wednesday, as it joined a parade of firms providing critical AI infrastructure for hyperscalers reporting record demand. Taiwanese electronics maker Foxconn also beat forecasts, with cloud and networking services accounting for more than half of its revenue for the first time. The race to develop ever more sophisticated AI models shows no sign of slowing, prompting Google co-founder Sergey Brin to impl…
Hon Hai beats profit estimates
Hon Hai Precision Industry Co (鴻海精密) yesterday said that net profit for the second quarter grew 35 percent year-on-year to NT$59.98 billion (US$1.86 billion), a record for a single quarter and beating the NT$58 billion average analyst estimate.Earnings per share rose to a record NT$4.27 from NT$3.19
Foxconn Posts Record USD 1.86 Bn Profit in Apr-June Quarter, Up 35% YoY on AI Server Demand
Get latest articles and stories on Business at LatestLY. Foxconn reported its highest-ever net profit for the second quarter, rising 35 per cent year-on-year to NT$59.97 billion (USD 1.86 billion), as cloud and networking products accounted for more than half of its revenue amid strong demand linked to AI infrastructure investments, according to a news report by Focus Taiwan. Business News | Foxconn Posts Record USD 1.86 Bn Profit in Apr-June Qu…
Foxconn used to make half its revenue from Apple; now it's below 29%
As Apple’s lead iPhone assembler, contract manufacturing company Foxconn long made more than half of its revenue from the Cupertino company. As of the last quarter, however, that proportion fell to below 29%, and the company says the shift is going to be permanent – leaving investors concerned …
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