Foxconn's Q3 Revenue Soars to Record High, Driven by AI Server Demand

iPhone Assembler Foxconn's Q3 Revenue Skyrockets: A Testament to AI Demand

Investor confidence solidifies as Foxconn reports revenue of US$57.3 billion in Q3 The world's largest contract electronics manufacturer Foxconn announced that it has hit an unprecedented Taiwan$1.85 trillion (US$57.3 billion) in revenue for the third quarter. This is an incredible 20.2% rise year-over-year for the company. The group cites AI servers as the main driving force behind the surge. The Apple iPhone assembler said, "Our results exceeded our expectations, and we believe it contributes to the growing influence of AI on our business.". The massive AI server requirements catapulted the company's cloud and networking products division, putting it at the forefront of the AI boom. Growth was also witnessed in the smart consumer electronics segment mainly due to recent launches in the space. However, year-on-year growth in this segment remained flat due to tough competition in the market.

Foxconn beats estimates with record third-quarter revenue on AI demand

Taiwan's Foxconn, the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the third quarter on strong demand for artificial intelligence servers. Revenue for Apple's biggest iPhone assembler jumped 20.2% year on year to 1.85 trillion Taiwanese dollars ($57.3 billion). "The result exceeded the company's original expectations of significant growth," Foxconn said in a statement on Saturday. It was also ahead of a T$1.79 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. Strong AI server demand led to robust revenue growth for its cloud and networking products division, said Foxconn whose customers include AI chip firm Nvidia NVDA.O. For smart consumer electronics, which includes iPhones, there was a strong quarter-on-quarter growth thanks to new product launches, but its year-on-year performance was flat. The third-quarter is traditionally when Taiwan's tech companies start racing to supply smartphones, tablets and other electronics to major vendors such as Apple for Western markets' year-end holiday period. Total revenue in September alone reached 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 of its outlook for the current quarter. "The fourth quarter is expected to be roughly in line with current market expectations," it added, without elaborating. The company does not provide numerical forecasts. Foxconn's shares have jumped 86% so far this year, outperforming by far a 24% rise for the broader Taiwan market .TWII. They closed up 3.7% on Friday ahead of the revenue data release, bucking a 0.4% fall on the benchmark index. The company will report its full third-quarter earnings on Nov. 14. It has scheduled its annual Tech Day on Oct. 8-9, an event where Foxconn normally announces new products or partnerships.

Foxconn beats estimates with record Q3 revenue on AI demand

Taipei: Taiwan's Foxconn, the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the third quarter on strong demand for artificial intelligence (AI) servers. Revenue for Apple's biggest iPhone assembler jumped 20.2% year on year to T$1.85 trillion ($57.3 billion). "The result exceeded the company's original expectations of significant growth," Foxconn said in a statement on Saturday. It was also ahead of a T$1.79 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. Strong AI server demand led to robust revenue growth for its cloud and networking products division, said Foxconn whose customers include AI chip firm Nvidia. For smart consumer electronics, which includes iPhones, there was a strong quarter-on-quarter growth thanks to new product launches, but its year-on-year performance was flat. The third-quarter is traditionally when Taiwan's tech companies start racing to supply smartphones, tablets and other electronics to major vendors such as Apple for Western markets' year-end holiday period. Total revenue in September alone reached 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 of its outlook for the current quarter. "The fourth quarter is expected to be roughly in line with current market expectations," it added, without elaborating. The company does not provide numerical forecasts. Foxconn's shares have jumped 86% so far this year, outperforming by far a 24% rise for the broader Taiwan market . They closed up 3.7% on Friday ahead of the revenue data release, bucking a 0.4% fall on the benchmark index. The company will report its full third-quarter earnings on November 14. It has scheduled its annual Tech Day on October 8-9, an event where Foxconn normally announces new products or partnerships.

IPhone Maker Hon Hai Sustains Revenue Rebound With Help From AI

Hon Hai Precision Industry Co.'s revenue growth accelerated last quarter, sustaining a bounce-back as demand for the servers that drive AI development offset weak smartphone sales. Apple Inc.'s main manufacturing partner, also known as Foxconn, reported sales rose 20.2% to NT$1.85 trillion ($57.9 billion) for the three months ended September from a year earlier. That compares with the average analyst projection of NT$1.78 trillion compiled by Bloomberg.