Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. <\/p>\n
Last month, the company said first-quarter revenue slid 10 per cent from a year earlier but it has been bullish about 2024. <\/p>\n
Net profit for January-March for Apple’s top iPhone assembler likely came in at T$29.3 billion ($904.6 million), according to an LSEG consensus estimate of 15 analysts. <\/p>\n
That would represent a 129 per cent increase from the same period a year ago when profit sagged after the company took a T$17.3 billion writedown related to its 34 per cent stake in Japanese electronics maker Sharp Corp. It would also mark a third consecutive quarter of profit growth. <\/p>\n
“Foxconn obviously is putting a lot of effort into its AI servers. Targeted clients include HP and Dell,” said Allen Huang, a vice president at Mega International Investment Service. <\/p>\n
Analysts at KGI Securities wrote in a client note that they expected the first quarter to be Foxconn’s sales trough for the year, with AI cloud server sales continuing to see huge demand. <\/p>\n
“As for 2025, we expect cloud sales to remain the major sales and earnings growth driver,” they added. <\/p>\n
Underscoring Foxconn’s rosy prospects, April sales hit a record high for the month and the company, formally called Hon Hai Precision Industry, has said it expects second-quarter revenue to grow year on year. Foxconn does not provide numerical guidance. <\/p>\n
Foxconn’s shares have surged more than 60 per cent so far in 2024, far outperforming the broader market’s 15 per cent gain, thanks to its confident outlook on AI. <\/p>\n
Apple’s quarterly results and forecast beat modest expectations this month, and CEO Tim Cook said revenue growth would return in the current quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Last month, the company said first-quarter revenue slid 10 per cent from a year earlier but it has been bullish about 2024. Net profit for January-March for Apple’s top iPhone assembler likely came in at T$29.3 billion ($904.6 million), according to an LSEG consensus estimate of 15 analysts. That would represent a 129 per cent increase from the same period a year ago […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-801134","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=801134"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801134\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=801134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=801134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=801134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}