Foxconn posts record third-quarter revenue
Revenue for the iPhone assembler jumped 20.2% year on year to T$1.85 trillion (USD 57.3 billion).
Taiwan’s Foxconn beat expectations to post its highest-ever revenue for the third quarter, bolstered by strong demand for AI servers.
Revenue for the iPhone assembler jumped 20.2% year on year to T$1.85 trillion (USD 57.3 billion), Reuters reports.
“The result exceeded the company’s original expectations of significant growth,” said Foxconn, whose customers include AI chip giant Nvidia.
Strong AI server demand drove robust revenue growth for its cloud and networking products division, the company said.
Smart consumer electronics, which includes iPhones, showed a strong quarter-on-quarter growth boosted by new product launches, but its year-on-year performance was flat, the Reuters report said.
Total revenue in September was T$733 billion, up 10.9% year-on-year and the second-highest ever level for the month.
“Entering the peak season in the second half of the year, we anticipate our operation to gradually gain momentum,” Foxconn said. “The fourth quarter is expected to be roughly in line with current market expectations.”
