Foxconn says third quarter to outperform market expectations on AI strength
The company said AI-related demand and the ICT peak season will drive sales growth, after August revenue rose 51.98% to NT$921.77 billion.
- On Saturday, Hon Hai, known globally as Foxconn, posted NT$921.8 billion in August sales, a 51.98% year-on-year increase marking the company's highest-ever performance for the month.
- Strong AI-related demand fueled the results, as the Taiwanese manufacturer solidifies its role as Nvidia's biggest server maker and major Apple supplier amid accelerating artificial intelligence momentum.
- During the January-August period, consolidated sales reached NT$6.51 trillion, up 39.73% from a year earlier, with cloud and networking divisions posting significant year-on-year growth.
- Foxconn expects third-quarter performance to outperform market expectations as it enters peak season, though management cautioned investors to "monitor the impact of the volatile global political and economic situation."
- Separately, Apple supplier Largan Precision reported August consolidated sales of NT$5.01 billion, down 16% year-on-year, though the company anticipates increased September sales as clients rebuild inventories.
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Foxconn recorded revenue of 921.7 billion Taiwan dollars in August, a 52% increase year-over-year, driven by increased demand for Nvidia's AI servers. While revenue was previously centered on the iPhone, the cloud and network divisions now account for more than half of the total, and further growth is expected in the third quarter due to the peak season for AI and ICT products.
AI Boom Lifts Foxconn August Sales to USD 29.14 Billion
Get latest articles and stories on Business at LatestLY. Taiwan-based manufacturing giant Hon Hai Precision Industry Co, globally known as Foxconn, reported a 51.98 per cent year-on-year rise in consolidated sales to NT$921.77 billion (USD 29.14 billion) in August, amid strong global demand for artificial intelligence applications, according to a news report by Focus Taiwan. Business News | AI Boom Lifts Foxconn August Sales to USD 29.14 Billion.
Nvidia partner Hon Hai's sales climb 52% as Europe lines up its own orders
Hon Hai reported August revenue of NT$921.8B, about $29.1B, up 52% year on year on AI server demand, well ahead of analyst expectations for the quarter. In June it signed a EUR 120M manufacturing partnership with Bull, the French state-owned computing firm, splitting work between Pardubice and Angers.x Hon Hai reported an August revenue rise […] This story continues at The Next Web
Foxconn says third quarter to outperform market expectations on AI strength
Foxconn's third-quarter performance is expected to outperform market expectations given strong AI-related demand, the Taiwanese contract electronics maker said on Saturday, though it offered caution about "volatile" global politics.
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