TAIPEI – Taiwan’s Foxconn reported record third-quarter revenue of T$2.057 trillion ($67.7 billion), driven by strong global demand for artificial intelligence products. Despite the milestone, the figure fell short of market expectations of T$2.134 trillion, according to LSEG estimates.
As the world’s largest electronics manufacturer and key supplier for Apple and Nvidia, Foxconn saw a 16.1% year-on-year rise in dollar terms. However, a stronger Taiwan dollar and weaker iPhone sales slightly weighed on results.
Revenue from cloud and networking products surged due to booming AI server demand, while smart consumer electronics posted a modest decline. The company expects continued growth in the fourth quarter as AI server shipments ramp up and year-end holiday demand strengthens.
Foxconn, officially known as Hon Hai Precision Industry, will release detailed Q3 earnings on November 12.
