Income for Apple’s largest iPhone assembler jumped 20.2% yr on yr to T$1.85 trillion ($57.3 billion).
“The end result exceeded the corporate’s unique expectations of great development,” Foxconn mentioned in an announcement on Saturday. It was additionally forward of a T$1.79 trillion LSEG SmartEstimate, which supplies larger weight to forecasts from analysts who’re extra constantly correct.
Robust AI server demand led to strong income development for its cloud and networking merchandise division, mentioned Foxconn whose clients embrace AI chip agency Nvidia.
For sensible shopper electronics, which incorporates iPhones, there was a powerful quarter-on-quarter development because of new product launches, however its year-on-year efficiency was flat.
The third-quarter is historically when Taiwan’s tech firms begin racing to produce smartphones, tablets and different electronics to main distributors equivalent to Apple for Western markets’ year-end vacation interval.Whole income in September alone reached T$733 billion, up 10.9% yr on yr and the second-highest ever degree for the month.”Getting into the height season within the second half of the yr, we anticipate our operation to step by step acquire momentum,” Foxconn mentioned of its outlook for the present quarter. “The fourth quarter is predicted to be roughly in keeping with present market expectations,” it added, with out elaborating.
The corporate doesn’t present numerical forecasts.
Foxconn’s shares have jumped 86% to date this yr, outperforming by far a 24% rise for the broader Taiwan market . They closed up 3.7% on Friday forward of the income knowledge launch, bucking a 0.4% fall on the benchmark index.
The corporate will report its full third-quarter earnings on November 14. It has scheduled its annual Tech Day on October 8-9, an occasion the place Foxconn usually pronounces new merchandise or partnerships.
