In a surprise move, Taiwan-based electronics giant Foxconn has shattered records by posting its highest-ever quarterly revenue, driven primarily by surging demand for artificial intelligence servers. The company’s revenue soared 20.2% year-over-year to reach NT$1.85 trillion (approximately $57.3 billion), exceeding market expectations and its own forecasts.
The stellar performance was largely attributed to the robust growth of its cloud and networking products division, which benefited from the increasing adoption of AI technology. Foxconn’s client roster includes prominent names like Nvidia, a leading AI chip manufacturer.
While the company’s smart consumer electronics segment, which includes iPhones, witnessed strong quarter-over-quarter growth due to new product launches, its year-over-year performance remained flat. This is despite the traditionally busy third quarter, when Taiwan’s tech companies scramble to meet the demand for smartphones, tablets, and other electronics from major vendors like Apple ahead of the Western markets’ year-end holiday season.
In September alone, Foxconn’s revenue reached NT$733 billion, a 10.9% year-over-year increase and the second-highest ever recorded for the month. Looking ahead, the company is optimistic about its prospects, anticipating a gradual increase in momentum during the peak season in the second half of the year.
Foxconn’s shares have been on a tear, surging 86% so far this year, significantly outpacing the 24% rise in the broader Taiwan market. The company is scheduled to release its full third-quarter earnings on November 14 and will host its annual Tech Day event on October 8-9, where it typically unveils new products or partnerships.
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