Taiwan's Foxconn beats Q4 sales on strong AI demand
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The news: Taiwan’s Hon Hai Precision Industry, also known as Foxconn, reported record fourth-quarter revenue of NT$2.13 trillion ($98.53 billion), beating analysts' expectations with a 15.2% increase driven by strong demand for AI servers.
The context: Foxconn said it expects “significant” year-on-year growth in Q1 2025 despite entering a seasonal slowdown.
Aiming to diversify from Apple, Foxconn expects cloud revenue to match iPhone sales in 2025 and continues exploring opportunities in electric vehicles, Bloomberg noted.
The company’s shares rose 76% in 2024, far outpacing the broader Taiwan market. Full earnings will be reported on 14 March.
The numbers: The NT$2.13 trillion revenue in the quarter exceeded the NT$2.1 trillion weighted forecast from accurate analysts calculated by LSGE.
December revenues alone reached NT$654.8 billion, up 42% year-on-year and was the second-highest ever level for that month.
Quarterly revenue from consumer electronics, including iPhones, was flat compared to the previous year, but the cloud and networking division showed robust growth, supported by clients like Nvidia.
The sources: Foxconn statement, Bloomberg
