Taiwan’s Foxconn said on August 12 that its second-quarter net profit rose 35% from a year earlier to T$59.97 billion (US$1.86 billion). The result beat the London Stock Exchange Group consensus estimate of T$58.8 billion (US$1.82 billion), as strong AI demand supported earnings.

Foxconn, formally known as Hon Hai Precision Industry, is the world’s largest contract electronics maker, Nvidia’s biggest server maker, and Apple’s top iPhone assembler.

It maintained its earlier forecast for strong full-year revenue growth and said AI demand should continue to support growth, after reporting in July that second-quarter revenue climbed 40%.

The profit increase came off a high base, as Foxconn had previously said the year-earlier quarter was a record for a second quarter.

Foxconn has also said AI server-related sales should exceed T$1 trillion (US$31 billion) this year.

🔗 Source: Reuters

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