Foxconn beats estimates with record fourth-quarter revenue on AI demand By Reuters

TAIPEI (Reuters) – Taiwan’s Foxconn (SS:), the world’s largest contract manufacturer of electronics, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for servers of artificial intelligence (AI).

Revenue for Apple (NASDAQ: ) the largest iPhone maker jumped 15.2% to T$2.13 trillion ($64.72 billion), Foxconn said in a statement on Sunday.

It was also ahead of the T$2.1 trillion LSEG SmartEstimate, which gives more weight to estimates from more accurate analysts.

Strong demand for AI servers has led to strong revenue growth for its cloud and networking products division, said Foxconn, whose customers include AI chip firm Nvidia (NASDAQ:).

For smart consumer electronics, which include iPhones, there was year-over-year growth, it said.

Summary (EPA:) revenue in December alone reached T $ 654.8 billion, up 42.3% year-on-year and the second highest level in the month.

“In the first quarter of 2025, the overall performance entered a slow period,” Foxconn said of its outlook for the current quarter.

“Although there is a record high revenue in the fourth quarter of 2024, the sequential performance of the first quarter will reach the same levels as in the previous five years; compared to the previous year, it should show a lot of growth.”

The company, as it is legally called must be (TW:) Precision Industry, did not elaborate. It does not provide statistical estimates.

Foxconn’s shares are up 76% in the past year, outperforming the 28.5% increase for the broader Taiwan market. They closed up 0.8% on Friday before the release of tax data, compared with a 0.3% gain for the benchmark index.

The company will report its full fourth quarter earnings on March 14.

($1 = 32.9120 Taiwan dollars)