Taiwan-based Foxconn, the world’s largest contract electronics maker, said on July 5 that revenue for April to June rose 39.8% year on year to T$2.513 trillion (US$78.6 billion), beating an LSEG SmartEstimate of T$2.372 trillion (US$74.2 billion) as demand for AI products lifted sales.

The company said strong AI demand drove growth in its cloud and networking products division, while its smart consumer electronics division, which includes iPhones, also grew strongly.

June revenue rose 52.1% year on year to a record T$821.8 billion (US$25.7 billion) for that month.

Foxconn said third-quarter operations are expected to grow quarter on quarter and year on year, but it warned that global political and economic conditions remain volatile.

Foxconn, whose formal name is Hon Hai Precision Industry, did not elaborate on the risks and does not provide numerical forecasts.

🔗 Source: Reuters