Foxconn second-quarter revenue jumps, company cautions on geopolitics
Hon Hai said AI-related products and cloud networking lifted quarterly sales above analyst estimates, while June revenue hit a record for the month.
- Foxconn reported a 40% year-on-year rise in second-quarter revenue, with the Taiwan-based company expecting overall operations to grow on a quarterly and annual basis.
- Strong AI demand fueled a 52% YoY revenue increase in June to a record T$821.8 billion, driven by cloud and networking products division growth.
- Smart consumer electronics, including Apple iPhones and MacBooks, posted "significant" growth, though Foxconn shares rose only 4.3% this year, underperforming the Taiwan market.
- The Bank for International Settlements warned on June 28 that "the conflict in Iran has thrown global supply chains into disarray," disrupting shipping through the Strait of Hormuz.
- AI rack shipments are expected to maintain growth in the third quarter as ICT products enter peak season, despite mounting bottlenecks in electricity supply and advanced chips.
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25 Articles
Global Market: Foxconn Q2 revenue jumps nearly 40% on AI demand, beats estimates
Foxconn reported a better-than-expected 39.8% year-on-year jump in second-quarter revenue, driven by strong demand for AI servers and cloud networking products. The world's largest contract electronics manufacturer also posted record June revenue and expects further growth in the third quarter despite macroeconomic uncertainties.
Foxconn (Hon Hai Precision Industry), known as Apple's largest iPhone assembler, recorded 120 trillion won in revenue in the second quarter, riding the wave of the artificial intelligence (AI) boom. This result stems from global big tech companies increasing data center investments following the spread of generative AI, which has allowed not only Nvidia's Graphics Processing Units (GPUs) but also the server manufacturers that install them to sec…
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