Taiwan's Foxconn Reports 34% Rise in Q3 Profit, Beats Forecasts
Net profit rose to NT$77.5 billion, beating analyst estimates as the company expanded AI server production and partnerships with Nvidia.
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8 Articles
Taiwan's Foxconn reports 34% rise in Q3 profit, beats forecasts
Tech giant Foxconn beats forecasts with third-quarter profit jump
Foxconn, the world's largest electronics contract manufacturer, has gone beyond making low-margin iPhones to producing AI servers for US tech titan Nvidia, as well as electric vehicles and robots. Its shares and those of other tech firms plunged last week on fears that US Democrats could use their newly won control of Congress to ramp up regulation of AI and slow the data centre expansion. Foxconn partner Nvidia has also weighed on sentiment, wi…
Taiwan-based contract manufacturer Foxconn reported unexpectedly strong third-quarter results. The company reported net profit of NT$77.5 billion (approximately SEK 23.5 billion). That compares with an average forecast of NT$70.3 billion, according to Bloomberg. Foxconn – also known as Hon Hai – is tasked with manufacturing products for tech giants such as Apple, Microsoft, Sony and Nintendo...
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