Foxconn reports record-breaking fourth-quarter revenue driven by surging demand for AI servers, particularly from major players like Nvidia.
 |
| Taiwan's largest electronics manufacturer, Foxconn, experiences significant revenue growth, surpassing expectations amidst a strong AI market. Image: Foxconn |
Shanghai, China - January 5, 2025:
Taiwan's Foxconn, the world's leading electronics manufacturer, has announced record-breaking revenue for the fourth quarter of 2024, driven by surging demand for artificial intelligence (AI) servers.
Revenue surged 15.2% to T$2.13 trillion ($64.72 billion), surpassing analyst expectations. This strong performance was largely attributed to the robust growth of its cloud and networking products division, catering to major AI chipmakers like Nvidia.
While the smart consumer electronics segment, including iPhones, saw only modest growth, the company experienced a significant boost from the AI sector. December alone witnessed a remarkable 42.3% year-on-year increase in revenue, reaching the second-highest level for the month.
Looking ahead to the first quarter of 2025, Foxconn anticipates a seasonal slowdown in operations. However, despite the expected dip, the company projects revenue to remain relatively stable compared to historical averages for this period.
Foxconn's shares have skyrocketed 76% in the past year, significantly outperforming the broader Taiwan market. The company is set to release its full fourth-quarter earnings report on March 14th.