Foxconn expected to post strong Q1 profit growth on AI server demand

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Taiwan‘s Foxconn, the world’s largest contract electronics maker, is expected to report on Wednesday that first-quarter profit leapt 72% on continued strong demand for artificial intelligence servers.

Net profit for January-March for Apple’s top iPhone assembler and Nvidia‘s server maker likely came in at T$37.8 billion ($1.25 billion), according to an LSEG consensus estimate of 13 analysts, versus T$22.01 billion a year earlier.

Foxconn, formally called Hon Hai Precision Industry, said last month that its first-quarter revenue jumped 24.2% to a…



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Foxconn expected to post strong Q1 profit growth on AI server demand


Taiwan‘s Foxconn, the world’s largest contract electronics maker, is expected to report on Wednesday that first-quarter profit leapt 72% on continued strong demand for artificial intelligence servers.

Net profit for January-March for Apple’s top iPhone assembler and Nvidia‘s server maker likely came in at T$37.8 billion ($1.25 billion), according to an LSEG consensus estimate of 13 analysts, versus T$22.01 billion a year earlier.

Foxconn, formally called Hon Hai Precision Industry, said last month that its first-quarter revenue jumped 24.2% to a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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