Foxconn third-quarter revenue jumps 47% y/y, beats market forecast
The company said AI-related operations and smart consumer electronics drove revenue above market estimates, while September revenue hit a record T$1.16 trillion.
- On Monday, Taiwan's Foxconn, the world's largest contract electronics maker, reported a 47% year-on-year jump in third-quarter revenue to T$3.03 trillion , beating analyst expectations amid strong AI-related demand.
- September revenue alone surged 38% year-on-year to T$1.16 trillion, a record monthly figure exceeding T$1 trillion for the first time, powered by Foxconn's commanding more than 40% share of the global AI server market.
- All four major business divisions reported robust growth in the third quarter, with cloud and networking products driving significant year-on-year improvement; nine-month consolidated sales reached T$7.67 trillion, up 39.53% from the prior year.
- Foxconn expects AI-related operations to continue growing in the fourth quarter, with the company stating seasonal electronics demand should "support overall performance in line with current market expectations" despite cautioning about volatile global conditions.
- Analysts identified Foxconn as a major beneficiary of Apple Inc.'s iPhone 18 launch last month, though the stock gained only 10% this year while underperforming Taiwan's 72% market rise; full third-quarter earnings arrive November 12.
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Foxconn third-quarter revenue jumps 47% y/y, beats market forecast - Regional Media News
TAIPEI, Oct 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and Nvidia's biggest server maker, reported on Monday a jump of 47% in third-quarter revenue year on year that beat market forecasts, fuelled by strong AI-related demand. Revenue for the quarter from [...]
Foxconn third-quarter revenue jumps 47% y/y, beats market forecast
TAIPEI, Oct 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and Nvidia's biggest server maker, reported on Monday a jump of 47% in third-quarter revenue year on year that beat market forecasts, fuelled by strong AI...
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