Foxconn Q1 Revenue Up 29.7% to NT$2.13 Trillion

Taiwan's Hon Hai Precision Industry, known globally as Foxconn, reported first-quarter revenue of NT$2.13 trillion (about $66.6 billion) on Sunday, marking a 29.7 percent increase from the previous year and highlighting robust demand for artificial intelligence servers and consumer electronics.

The figure, released ahead of full earnings details scheduled for May 14, slightly missed analyst expectations of NT$2.148 trillion according to LSEG SmartEstimate. Growth was led by the cloud and networking products division, which saw significant expansion from AI-related infrastructure, particularly servers for data centers. Foxconn, the world's largest contract electronics manufacturer and a key supplier for Nvidia, benefited from the ongoing boom in AI hardware. The smart consumer electronics segment, including iPhone assembly for Apple, also posted strong gains following recent product launches.

March contributed notably to the quarterly total, with revenue reaching a record NT$803.7 billion, up 45.6 percent year over year. The company attributed this performance to sustained demand for AI rack systems and new consumer devices.

Looking ahead, Foxconn anticipates sequential and annual...