Foxconn, the world's largest contract electronics maker, reported a 47% year-on-year jump in third-quarter revenue on Monday. The result beat market estimates and was driven by strong AI-related demand.
Revenue for the July-September quarter was T$3.03 trillion ($95.4 billion), well above the T$2.83 trillion LSEG SmartEstimate, which gives more weight to forecasts from analysts with a better track record.
Strong AI demand led to robust growth in Foxconn's cloud and networking products division, while smart consumer electronics, which include iPhones, also posted significant growth, the company said.
September revenue alone rose 38% year-on-year to T$1.16 trillion. That was a record for a single month and the first time Foxconn has passed T$1 trillion in a month.
Foxconn expects its AI-related operations to keep growing in the fourth quarter. The company, formally called Hon Hai Precision Industry, does not provide numerical forecasts.
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