TAIPEI (Reuters) – Taiwan’s Foxconn (SS:), the world’s largest contract electronics maker, beat expectations to put up its highest-ever income for the fourth quarter on continued sturdy demand for synthetic intelligence (AI) servers.
Income for Apple (NASDAQ:)’s greatest iPhone assembler jumped 15.2% to T$2.13 trillion ($64.72 billion), Foxconn stated in an announcement on Sunday.
It was additionally forward of a T$2.1 trillion LSEG SmartEstimate, which supplies better weight to forecasts from analysts who’re extra persistently correct.
Sturdy AI server demand led to sturdy income progress for its cloud and networking merchandise division, stated Foxconn, whose prospects embrace AI chip agency Nvidia (NASDAQ:).
For good shopper electronics, which incorporates iPhones, there was “roughly flattish” year-on-year progress, it stated.
Complete (EPA:) income in December alone reached T$654.8 billion, up 42.3% 12 months on 12 months.
“Within the first quarter of 2025, general operations have steadily entered the normal low season,” Foxconn stated of its outlook for the present quarter.
“Even with document excessive income within the fourth quarter of 2024, the sequential efficiency of the primary quarter will attain roughly comparable ranges which can be common to the previous 5 years; in contrast with a 12 months in the past, it ought to present vital progress.”
The corporate, formally known as Hon Hai (TW:) Precision Business, didn’t elaborate. It doesn’t present numerical forecasts.
Foxconn’s shares jumped 76% final 12 months, outperforming by far a 28.5% rise for the broader Taiwan market. They closed down 0.8% on Friday forward of the income knowledge launch, in contrast with a 0.3% acquire for the benchmark index.
The corporate will report its full fourth-quarter earnings on March 14.
(This Jan. 5 story has been corrected to take away the reference to milestone for December income in paragraph 6 after the corporate amended its assertion)
