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.
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