Foxconn sees robust AI server demand, posts 14% rise in Q3 profit [Yahoo! Finance Canada]
HON HAI PRECSON S/GDR NEW (HNHPF)
NASDAQ:AMEX Investor Relations:
foxconn.com/investors_en/investors.html
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Source: Yahoo! Finance Canada
The firm, a key supplier to Apple and Nvidia, kept its 2024 guidance of "significant" sales growth and forecast AI servers would account for 50% of its total server revenue next year. Foxconn said last month it was building the world's largest manufacturing facility in Mexico for bundling Nvidia's GB200 superchips, a key component of the U.S. firm's next-generation Blackwell family computing platform. Underscoring Foxconn's rosy prospects, October sales hit a record high for the month and the company, formally called Hon Hai Precision Industry, has said it expects fourth-quarter revenue to grow year-on-year. It does not provide numerical guidance. Net profit for July-September for Apple's top iPhone assembler came in at T$49.3 billion ($1.5 billion), according to Reuters calculations. That marked a fifth consecutive quarter of profit growth and compared with a T$46.3 billion LSEG consensus estimate of 14 analysts. Last month, the company said third-quarter revenue jumped
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