Foxconn first quarter profit rises 19 percent on AI demand
Foxconn reported a 19 percent rise in first-quarter profit to T$49.92 billion, surpassing market estimates on strong demand for artificial intelligence servers. The company maintained its outlook for significant annual revenue growth while continuing to expand its manufacturing footprint in India and North America.
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Hon Hai Precision Industry reported a 19% rise in first-quarter net profit to T$49.92 billion ($1.58 billion) on strong AI demand. The result beat the T$48.88 billion consensus estimate and followed a 30% jump in quarterly revenue. As Nvidia's biggest server maker, Foxconn is pivoting from smartphones to high-growth AI infrastructure.
