Foxconn, the New Taipei City-based contract electronics manufacturer known formally as Hon Hai Precision Industry, said July revenue rose 54.2% year on year to a record T$946.5 billion (US$27.9 billion).

The company said the growth was driven by strong demand for AI products.

Foxconn, a supplier to Nvidia and Apple, said growth was led by its cloud and networking business, which includes AI servers and other data center hardware.

Its smart consumer electronics division, including smartphones, also grew strongly.

Foxconn said AI rack shipments are expected to keep growing in the third quarter and that operations would gradually pick up as information and communication technology products enter peak season.

The company expects both quarter-on-quarter and year-on-year growth, while warning about a volatile global political and economic situation ahead of its full second-quarter earnings on August 12.

🔗 Source: Reuters

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