A man wearing a face mask walks past the logo of Foxconn, or Hon Hai Group, a technology giant in Taiwan and the world's leading producer of semiconductors or chips especially for Apple devices, amid the coronavirus (COVID-19) outbreak, in Taipei, Taiwan, July 15, 2021.
Sing Shu Yi | norphoto | Getty Images
Taiwan Foxconnthe world's largest contract electronics manufacturer, beat expectations to record its highest revenue ever for the fourth quarter thanks to continued strong demand for artificial intelligence (AI) servers.
Foxconn said in a statement on Sunday that revenues from Apple's largest iPhone assembler jumped 15.2% to 2.13 trillion New Taiwan dollars ($64.72 billion).
It was also ahead of the NT$2.1 trillion LSEG SmartEstimate, giving more weight to analysts' consistently more accurate forecasts.
Foxconn, whose clients include AI chipmaker Nvidia, said strong demand for AI servers led to strong revenue growth in its cloud and networking products division.
For smart consumer electronics, which includes iPhones, there was “almost flat” year-on-year growth, she added.
Total revenue in December alone reached NT$654.8 billion, up 42.3% year-on-year and the second highest level ever for the month.
“In the first quarter of 2025, overall operations gradually entered the traditional off-season,” Foxconn said of its forecast for the current quarter.
“Even with record revenues in the fourth quarter of 2024, first-quarter sequential performance will roughly reach levels similar to the past five-year average; compared to last year, it should show significant growth.”
The company, officially called Hon Hai Precision Industry, did not provide any details. It does not provide numerical forecasts.
Foxconn shares jumped 76% last year, far outpacing the 28.5% rise in the broader Taiwan market. Shares closed down 0.8% on Friday ahead of the revenue data, compared with the benchmark index's 0.3% gain.
The company will announce its full fourth-quarter earnings on March 14.
