Major Apple supplier Foxconn expected to report strong Q3 results on AI boom

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Thursday that third-quarter profit rose 7% year-on-year on robust demand for artificial intelligence servers.

Last month, the company said third-quarter revenue jumped 20% from a year earlier, beating expectations to post its highest-ever revenue for that quarter on strong sales of AI servers.

Net profit for July-September for Apple’s top iPhone assembler likely came in at T$46.3 billion ($1.43 billion), according to an LSEG consensus estimate of 14 analysts.