Foxconn beats estimates with record third-quarter revenue on AI demand

“The effect exceeded the company’s archetypal expectations of important growth,” Foxconn said successful a connection connected Saturday.

It was besides up of a T$1.79 trillion LSEG SmartEstimate, which gives greater value to forecasts from analysts who are much consistently accurate.

Strong AI server request led to robust gross maturation for its unreality and networking products division, said Foxconn whose customers see AI spot steadfast Nvidia.

For astute user electronics, which includes iPhones, determination was a beardown quarter-on-quarter maturation acknowledgment to caller merchandise launches, but its year-on-year show was flat.

The third-quarter is traditionally erstwhile Taiwan’s tech companies commencement racing to proviso smartphones, tablets and different electronics to large vendors specified arsenic Apple for Western markets’ year-end vacation period.

Total gross successful September unsocial reached T$733 billion, up 10.9% twelvemonth connected twelvemonth and the second-highest ever level for the month.

“Entering the highest play successful the 2nd fractional of the year, we expect our cognition to gradually summation momentum,” Foxconn said of its outlook for the existent quarter.

“The 4th fourth is expected to beryllium astir successful enactment with existent marketplace expectations,” it added, without elaborating.

The institution does not supply numerical forecasts.

Foxconn’s shares person jumped 86% truthful acold this year, outperforming by acold a 24% emergence for the broader Taiwan marketplace . They closed up 3.7% connected Friday up of the gross information release, bucking a 0.4% autumn connected the benchmark index.

The institution volition study its afloat third-quarter net connected Nov. 14. It has scheduled its yearly Tech Day connected Oct. 8-9, an lawsuit wherever Foxconn usually announces caller products oregon partnerships. ($1 = 32.2900 Taiwan dollars)