TAIPEI, Jan 5 (GH Educate) – Taiwan’s Foxconn, the world’s largest contract electronics maker, has reported its highest-ever revenue for the fourth quarter, driven by strong demand for artificial intelligence (AI) servers.
Foxconn, which assembles iPhones for Apple, saw its revenue jump by 15.2% to T$2.13 trillion ($64.72 billion) in the quarter. This exceeded analysts’ expectations, with the company beating a forecast of T$2.1 trillion.
The company said that the strong demand for AI servers contributed to a significant increase in revenue from its cloud and networking products division. Foxconn’s clients include Nvidia, a leading company in AI chip technology.
In the consumer electronics sector, which includes iPhones, Foxconn experienced stable year-on-year growth, with no major changes in sales.
In December alone, Foxconn earned T$654.8 billion, marking a 42.3% increase compared to the same month last year, and reaching the second-highest revenue level for the month.
Looking ahead, Foxconn said that the first quarter of 2025 typically sees slower business activity due to the off-season. However, it expects its performance to be similar to the average of the last five years, with significant growth compared to the previous year.
Foxconn’s shares rose after CEO Hock Tan hinted at more revenue growth in the future. The company, formally known as Hon Hai Precision Industry, did not release detailed forecasts.
Foxconn’s shares soared by 76% last year, far outpacing the 28.5% rise in Taiwan’s broader stock market. The stock dropped by 0.8% on Friday, just before the revenue announcement, while Taiwan’s benchmark index rose by 0.3%.
Foxconn will release its full fourth-quarter earnings on March 14.
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