TAIPEI (Reuters) -Taiwan’s Foxconn (SS:), the world’s largest contract electronics maker, beat expectations to submit its highest-ever income for the fourth quarter on continued robust demand for synthetic intelligence (AI) servers.
Income for Apple (NASDAQ:)’s largest 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 provides higher weight to forecasts from analysts who’re extra constantly correct.
Strong AI server demand led to robust income development for its cloud and networking merchandise division, stated Foxconn, whose prospects embody AI chip agency Nvidia (NASDAQ:).
For sensible shopper electronics, which incorporates iPhones, there was “roughly flattish” year-on-year development, it stated.
Complete (EPA:) income in December alone reached T$654.8 billion, up 42.3% 12 months on 12 months and the second-highest ever degree for the month.
“Within the first quarter of 2025, general operations have step by step entered the normal low season,” Foxconn stated of its outlook for the present quarter.
“Even with report 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 important development.”
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 information launch, in contrast with a 0.3% acquire for the benchmark index.
The corporate will report its full fourth-quarter earnings on March 14.
($1 = 32.9120 Taiwan {dollars})
