Foxconn Chairman Younger Liu delivers a speech throughout the Hon Hai Tech Day in Taipei on Oct. 18, 2023.
I-hwa Cheng | AFP | Getty Photos
Foxconn, the world’s largest contract electronics maker, reported Wednesday that its third-quarter revenue jumped 17% from a 12 months earlier.
This is how Foxconn did within the September quarter in contrast with LSEG SmartEstimates, that are weighted towards forecasts from analysts who’re extra persistently correct:
- Income: $2.06 trillion New Taiwan {dollars} ($66.29 billion) vs. NT$2.06 trillion anticipated
- Web revenue: NT$57.67 billion vs. NT$50.41 billion
Foxconn, formally generally known as Hon Hai Precision Business, is finest generally known as the world’s largest producer of Apple‘s iPhones, however has been shifting into different enterprise avenues, together with AI.
The agency manufactures server racks designed for AI workloads and has grow to be a key companion to American AI chip darling Nvidia.
Foxconn’s server manufacturing enterprise is presently in a robust progress part, underpinned by strong demand, Ivan Lam, a senior analyst at Counterpoint Analysis, instructed CNBC.
The corporate is leveraging its dominance in contract manufacturing to safe each present and future orders, Lam mentioned, describing it as a transparent case of “observe the money” — a technique that naturally includes sacrificing some shopper electronics orders.
He added that Foxconn’s pivot towards high-growth server manufacturing “is clearly paying off,” even because it trades elements of its shopper electronics footprint for longer-term momentum.
Whereas part value volatility, forex swings, and logistics challenges can strain margins, Lam mentioned he expects Foxconn’s fourth-quarter outcomes to “stay favorable.”
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