Foxconn Posts Record Revenue for Q4, Driven by AI Demand

Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, exceeded expectations by posting its highest-ever revenue for the fourth quarter, fueled by strong demand for artificial intelligence (AI) servers. Revenue surged 15.2% year-on-year, reaching T$2.13 trillion ($64.72 billion), surpassing the anticipated T$2.1 trillion, as reported by LSEG SmartEstimate. Foxconn’s cloud and networking products division saw notable growth due to AI server demand, particularly from clients like AI chipmaker Nvidia (NVDA.O).

While the smart consumer electronics segment, including iPhones, saw flat growth, December alone brought in T$654.8 billion, marking a 42.3% increase compared to the previous year. Looking ahead, Foxconn anticipates a slower performance in Q1 2025, consistent with seasonal trends but still reflecting significant year-on-year growth. The company’s shares rose 76% in 2024, outperforming Taiwan’s broader market growth of 28.5%.