Taiwan’s Foxconn reports 35% rise in Q2 profit on AI demand, beats forecasts

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, reported on Wednesday a 35% rise in ‌second-quarter profit, ⁠beating ⁠analyst forecasts, on continued strong demand for AI, which it predicted would drive growth this year.

Net profit for the April to June period for Nvidia’s biggest server maker and Apple’s top iPhone assembler was T$59.97 billion ($1.86 billion), versus an LSEG consensus estimate of T$58.8 billion and compared with T$44.4 billion ⁠a year ‌earlier.