(Corrected by removing the reference to the indicator for December income in paragraph 6 after the amended report of the company)
TAIPEI (Reuters) – Taiwan Foxconn (SS:), the world’s largest electronics contract manufacturer, beat expectations and posted the highest revenue in the fourth quarter due to continued strong demand for artificial intelligence (AI) servers.
Revenue at top iPhone maker Apple (NASDAQ: ) jumped 15.2% to T$2.13 trillion ($64.72 billion), Foxconn said on Sunday.
It was also ahead of the LSEG SmartEstimate of T$2.1 trillion, which gives more weight to analysts’ forecasts that are more consistently accurate.
Strong demand for AI servers led to strong revenue growth for its cloud and networking products division, said Foxconn, whose customers include AI chip company Nvidia ( NASDAQ: ).
Smart consumer electronics, which includes the iPhone, saw “roughly flat” annual growth, it said.
In total (EPA:) revenues in December alone reached T$654.8 billion, which is 42.3% more than last year.
“In the first quarter of 2025, overall business gradually entered the traditional off-season,” Foxconn said of its outlook for the current quarter.
“Even with record-high revenues in the fourth quarter of 2024, sequential first-quarter performance will reach roughly similar levels to those averaged over the past five years; compared to last year, it should show significant growth.”
The company, formally so-called Hon Hai (TW:) Precision Industry, did not elaborate. It does not provide numerical forecasts.
Foxconn shares have jumped 76% in the past year, far outpacing the 28.5% gain for the broader Taiwan market. They ended down 0.8% on Friday ahead of earnings data, compared with a 0.3% rise in the benchmark index.
The company will announce full fourth-quarter earnings on March 14.
($1 = 32.9120 Taiwan dollars)
