Nvidia supplier Foxconn's first-quarter profit surges on AI server demand
The Hindu
Taiwan’s Foxconn, the world’s largest contract electronics maker, on Wednesday said first-quarter profit leapt 91%.
Taiwan's Foxconn, the world's largest contract electronics maker, on Wednesday said first-quarter profit leapt 91% and beat the market forecast on continued strong demand for artificial intelligence servers.
Net profit for January-March for Apple's top iPhone assembler and Nvidia's server maker came in at T$42.12 billion ($1.39 billion), versus the T$37.8 billion average of 13 analyst estimates compiled by LSEG.
Foxconn, formally Hon Hai Precision Industry, last month said January-March revenue jumped 24.2% to a record for that quarter on strong sales of AI servers.
A Sino-U.S. trade spat could dim prospects for Foxconn's outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing on Monday agreed to slash tariffs for at least 90 days.
Most of the iPhones Foxconn makes for Apple are assembled in China. Foxconn is also building a large manufacturing facility in Mexico, another target of U.S. President Donald Trump's tariffs, to produce AI servers for Nvidia.
In an earnings report, Foxconn said it should see significant on-year growth in the second quarter, with high double-digit growth year-on-year for AI servers and an accelerating volume production ramp-up.
The manufacturer does not provide numerical guidance.
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