Foxconn’s first-quarter revenue soars, but the company warns of geopolitical risks
Due to the robust demand for artificial intelligence goods, Foxconn, the largest Taiwanese contract electronics manufacturer in the world, reported a 29.7% year-over-year growth in first-quarter sales; but, it issued a warning regarding the «volatile» state of world politics.
According to a statement from Foxconn, the biggest producer of Nvidia servers and Apple’s primary iPhone assembler earned 2.13 trillion New Taiwan dollars (US$66.6 billion).
This amount was marginally less than LSEG’s SmartEstimate, which is 2.14 trillion New Taiwan dollars and assigns more weight to more accurate analyst estimates.
Its cloud and networking products sector saw strong sales growth due to the strong demand for AI. The business claims that new product introductions contributed to «significant» growth in the smart consumer devices division, which includes iPhones.
Revenue in March alone reached a record of NT$803.7 billion, up 45.6% from the previous year.
