World’s largest contract electronics manufacturer beats forecasts as cloud and networking growth drives record monthly revenues.
Taiwanese manufacturing giant Foxconn has reported a 47 per cent year-on-year surge in third-quarter revenue, comfortably beating market expectations on the back of sustained demand for artificial intelligence infrastructure.
Revenue for the July to September period reached $95.4 billion (3.03 trillion Taiwan dollars), surpassing the $89.1 billion estimated by analysts in an LSEG SmartEstimate poll.
The strong performance was driven primarily by robust growth within its cloud and networking division, alongside solid sales in consumer electronics, which includes Apple’s iPhone range.
September sales alone jumped 38 per cent year-on-year to $36.5 billion, marking the first time monthly revenue at the company has topped the $31.5 billion threshold.
Looking ahead, Foxconn expects its AI operations to maintain strong momentum through the final quarter of the year. Combined with the traditional peak season for consumer electronics, the group expects full-year performance to track in line with market expectations, though it warned that global macroeconomic volatility and geopolitical tensions remain key risks.
Foxconn, formally known as Hon Hai Precision Industry, will publish its full third-quarter earnings on 12 November.
