Foxconn revenue hits record on strong AI demand

Reuters

Taiwan's Foxconn, the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence servers.

Revenue for Apple's biggest iPhone assembler jumped 15.2 percent to T$2.13 trillion (HK$500 billion), Foxconn said in a statement yesterday.

Robust AI server demand led to strong revenue growth for its cloud and networking products division. For smart consumer electronics, which includes iPhones, there was "roughly flattish" year-on-year growth, it said.

Total revenue in December alone reached T$654.8 billion, up 42.3 percent year-on-year and the second-highest ever level for the month.

"In the first quarter of 2025, overall operations have gradually entered the traditional off-season," Foxconn said of its outlook for the current quarter.

"Even with record high revenue in the fourth quarter of 2024, the sequential performance of the first quarter will reach roughly similar levels that are average to the past five years. Compared with a year ago, it should show significant growth."

Foxconn's shares jumped 76 percent last year, far outperforming a 28.5 percent rise for the broader Taiwan market. They closed 0.8 percent down on Friday ahead of the revenue data release, compared to a 0.3 percent gain for the benchmark index.

The company will report its full fourth-quarter earnings on March 14.