A man wearing a mask walks past a sign of Foxconn or Hon Hai Group, a Taiwanese technology giant and the world’s leading producer of semiconductors or chips, especially for Apple devices, in Taipei, Taiwan, July 15 Manufacturer, Taipei, Taiwan, 2021 during the COVID-19 outbreak.
Ceng Shou Yi | Nurphoto | Getty Images
Taiwanese FoxconnThe world’s largest contract electronics maker reported fourth-quarter revenue that beat expectations and hit a record high on continued strong demand for artificial intelligence (AI) servers.
Revenue at Apple’s largest iPhone assembler rose 15.2% to NT$2.13 trillion ($64.72 billion), Foxconn said in a statement on Sunday.
It also leads the NT$2.1 trillion LSEG SmartEstimate, which puts more weight on analyst forecasts that are more consistent and accurate.
Foxconn said strong demand for artificial intelligence servers, whose customers include artificial intelligence chip company Nvidia, led to strong revenue growth in its cloud and network products division.
The report said that the year-on-year growth of smart consumer electronics products, including iPhones, was “roughly flat.”
Total revenue in December alone reached NT$654.8 billion, an increase of 42.3% over the same period last year, the second highest level in a single month.
“In the first quarter of 2025, the overall operation has gradually entered the traditional off-season,” Foxconn said when talking about this quarter’s outlook.
“Even with record fourth-quarter 2024 revenue, sequential first-quarter results will be at levels broadly similar to the past five-year average; should represent significant growth compared to a year ago.”
The company’s official name is Hon Hai Precision Industry, but no details were given. It does not provide numerical predictions.
Foxconn’s stock price rose 76% last year, far exceeding the Taiwan stock market’s 28.5% rise. On Friday, ahead of the earnings data, the company closed down 0.8%, while the benchmark index gained 0.3%.
The company will release its full fourth-quarter earnings on March 14.
