Foxconn profit jumps 35% on AI server demand

Foxconn reported a 35% rise in second-quarter net profit on Wednesday, helped by demand for artificial intelligence servers used in data centres.

The Taiwanese company, officially Hon Hai Precision Industry, said net profit for April-June reached NT$59.97 billion, or $1.86 billion. Revenue for the quarter reached NT$2.53 trillion, up 41% from a year earlier.

The profit figure exceeded the NT$58.38 billion estimate in a Bloomberg survey of analysts.

“AI infrastructure is driving growth,” Foxconn said in its earnings announcement. The company forecast strong year-on-year growth in the current quarter and a strong full-year outlook.

Foxconn has expanded beyond assembling iPhones into making AI servers for Nvidia, as well as electric vehicles and robots.