AI servers clear half of Foxconn revenue for the first time
Foxconn (TPE: 2317) posted a net profit of NT$59.97 billion for the second quarter, up 35% from a year ago and beating analyst forecasts of NT$58.8 billion.
The company forecast AI demand would spur growth this year.
Cloud and networking cleared half of Foxconnโs revenue
The Taiwanese company, formally Hon Hai Precision Industry, is the largest server manufacturer for Nvidia (NASDAQ: NVDA) and the main assembler of iPhones for Apple (NASDAQ: AAPL).
Net profit in the April-June period was NT$59.97 billion, or about $1.86 billion, compared with an LSEG consensus of NT$58.8 billion and NT$44.4 billion a year earlier. Cryptopolitan reported the year-ago figure was a 27% gain.
Cloud and networking products, the segment that includes AI servers, made up 51% of revenue in the second quarter. This is the first time it has breached 50%.
Smart consumer electronics, the segment that includes iPhones, made up 29%. In July, Foxconn reported a 40% year-on-year increase in revenue in the second quarter.
In its earnings release, Foxconn reiterated its earlier guidance of โstrongโ revenue growth this year. The company does not provide numeric guidance.
โฆ Continue reading the full article at the original source below.
