Taiwan’s Foxconn, the world’s largest contract electronics maker, reported a 39.8% year-on-year rise in second-quarter revenue that beat market forecasts on strong demand for AI products.
Revenue for Nvidia’s biggest server maker and Apple’s top iPhone assembler jumped to T$2.513 trillion ($78.71 billion) in the April-June quarter, Foxconn said in a statement on Sunday.
Strong AI demand led to robust revenue growth for its cloud and networking products division, while smart consumer electronics, which includes iPhones, posted significant growth, the company said.
June revenue alone rose 52.1% year-on-year to T$821.8 billion, a record for that month.
Operations are expected to grow both quarter-on-quarter and year-on-year in the third quarter, with AI racks maintaining a growth trend, the company said.
However, Foxconn cautioned about the impact of the volatile global political and economic situation.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
