Foxconn beats estimates on AI demand with record fourth-quarter earnings, according to Reuters

(The company amends by removing the main reference to December earnings in paragraph 6 after the revised statement)

TAIPEI (Reuters) – Taiwan Foxconn ( SS: ), the world’s largest electronics maker, beat expectations to post higher earnings for the fourth quarter on the back of strong artificial intelligence (AI) servers.

Revenue of Apple (NASDAQ: ) the largest iPhone maker jumped 15.2 percent to T$2.13 trillion ($64.72 billion), Foxconn said in a statement on Sunday.

It was also ahead of the T$2.1 trillion LSEG SmartEstimate, which gives more weight to analysts’ forecasts that are consistently accurate.

Strong demand for AI servers led to strong revenue growth for its cloud and networking products division, Foxconn said, whose customers include AI chip firm Nvidia ( NASDAQ: ).

It noted “relatively flat” year-over-year growth for smart consumer electronics, including iPhones.

Total (EPA:) In December alone, revenue reached T$654.8 billion, an increase of 42.3 percent year-on-year.

“In the first quarter of 2025, overall operations gradually entered the traditional season,” Foxconn said of its outlook for the current quarter.

“While the fourth quarter of 2024 will record higher earnings, the first quarter’s sequential performance will average about the same level as the previous five years, and should show significant growth compared to a year ago.”

The company was officially called Yes (TW:) Accuracy industry, I don’t explain. It does not provide numerical predictions.

Foxconn shares have risen 76% in the past year, outperforming the broader Taiwan market by 28.5%. They closed up 0.8% on Friday before the release of earnings data, a 0.3% gain for the benchmark index.

The company will report its full fourth-quarter earnings on March 14.

($1 = 32.9120 Taiwan dollars)