Foxconn third-quarter revenue soars on AI demand, beats market forecast

Taiwan’s Foxconn, the world’s largest contract electronics maker, reported on Monday a 47% jump in third-quarter revenue year-on-year that beat market estimates, fuelled by strong AI-related demand.

Revenue for the July-September quarter was T$3.03 trillion ($95.4 billion), well above an LSEG SmartEstimate of T$2.83 trillion that gives greater weight to forecasts from analysts who are more consistently accurate.

Strong AI demand led to robust revenue growth for its cloud and networking products division, while smart consumer electronics, which include iPhones, posted significant growth, the company said.