Foxconn achieves record fourth-quarter revenue, driven by strong AI server demand
The company’s revenue surged 15.2% to T$2.13 trillion ($64.72 billion), exceeding expectations.
Taiwan’s Foxconn, the world’s leading electronics contract manufacturer, reported record-breaking revenue for the fourth quarter, driven by surging demand for AI servers. With a 15.2% rise in revenue to T$2.13 trillion ($64.72 billion), the company outperformed market expectations, reflecting the robust growth of its cloud and networking products division. Major clients like Nvidia have fueled the boom, while its consumer electronics segment, including iPhones, remained stable year-on-year.
Foxconn’s December revenue alone soared by 42.3% compared to the previous year, reaching T$654.8 billion, marking the second-highest figure for that month in the company’s history. Despite the fourth quarter’s impressive performance, Foxconn acknowledged the seasonal slowdown typical of the first quarter. However, the company projects significant year-on-year growth for early 2025, aligning with average levels from the past five years.
The company, formally known as Hon Hai Precision Industry, has seen its shares skyrocket by 76% in 2024, far outpacing Taiwan’s broader market index. Investors remain optimistic as Foxconn continues to dominate in the AI and electronics sectors, with its entire fourth-quarter earnings set to be unveiled on 14 March.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.
