Foxconn posts quarterly profit surge on AI server demand
The company said net profit for April-June reached T$59.97 billion (US$1.86 billion), up 35% from the previous year.
Taiwanese technology giant Foxconn reported a record-breaking second-quarter net profit on Wednesday, driven by soaring demand for artificial intelligence servers. The company, officially known as Hon Hai Precision Industry, saw its profit for April-June reach T$59.97 billion (US$1.86 billion), a 35% increase from the previous year. Analysts had predicted a profit of T$58.38 billion, as reported by Bloomberg. Revenue for the three months was T$2.53 trillion, marking a 41% year-over-year growth.
Foxconn's growth is fueled by the rising demand for AI infrastructure, as governments and tech giants invest heavily in data centers for training and running AI tools like chatbots, image generators, and task-executing agents. The company manufactures the servers used in these data centers, capitalizing on the surge in AI-related business. Foxconn predicts strong year-over-year growth and anticipates a robust full-year outlook.
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- Foxconn posts quarterly profit surge on AI server demand economictimes.indiatimes.com
- Foxconn posts quarterly profit surge on AI server demand freemalaysiatoday.com
- Taiwan’s Foxconn reports 35 percent rise in profit on AI demand aljazeera.com
