Foxconn’s Q3 Revenue Surges 20% Amid AI Growth

Foxconn’s Q3 Revenue Surges 20% Amid AI Growth

Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, posted its highest-ever quarterly revenue in Q3, driven by strong demand for artificial intelligence (AI) servers. Revenue surged 20.2% year-on-year to T$1.85 trillion ($57.3 billion), surpassing expectations and beating analyst estimates of T$1.79 trillion.

Foxconn attributed the growth to its cloud and networking products division, which benefited from robust AI server demand, with clients including AI chip giant Nvidia. While the smart consumer electronics division, including iPhones, saw strong quarter-on-quarter growth, its year-on-year performance was flat.

September revenue alone hit T$733 billion, up 10.9% from the previous year. Foxconn anticipates continued momentum in the fourth quarter, aligning with market expectations, but provided no specific forecasts. The company will release full Q3 earnings on November 14 and will hold its annual Tech Day on October 8-9 to announce new products and partnerships.

Related Readings:

The Role of Artificial Intelligence in Personalized Financial Services

Software development branching strategy process workflow with flowchart diagram showing branch, merging, pull request, commit, master, development, and release version. Distributed version control.

Share post:

Subscribe

Popular

More like this
Related

NOW HIRING!

Love the service and care you get at Stubbs...

Is International Diversification Finally Working?

International diversification has been an anchor around the necks...

Do These AIs Speak Their Own Secret Language?

In July 2022, news broke that Google (Nasdaq: GOOG)...

Why tourism in Africa is more than game drives and getaways

Across the African continent, the tourism industry fuels the...