Atin Ito | Ontario’s First Filipino Community Newspaper – Trusted News and Stories for the Filipino-Canadian Community Atin Ito is Ontario’s first Filipino community newspaper, delivering trusted news, stories, and updates for Filipino-Canadians. Stay connected with your community.
TAIPEI — Taiwan’s Foxconn, the world’s largest contract electronics maker, reported a 39.8-percent year-on-year rise in second-quarter revenue that beat market forecasts on strong demand for artificial intelligence (AI) products, though it cautioned about “volatile” global politics.
Revenue for Nvidia’s biggest server maker and Apple’s top iPhone assembler jumped to T$2.513 trillion ($78.71 billion) in the April-June quarter, Foxconn said in a statement on Sunday.
That was above a T$2.372 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate.
Strong AI demand led to robust revenue growth for its cloud and networking products division, while smart consumer electronics, which includes iPhones, posted “significant” growth, the company said.
June revenue alone rose 52.1-percent year-on-year to T$821.8 billion, a record for that month.
Foxconn, formally called Hon Hai Precision Industry, does not provide numerical forecasts.
The company’s shares have gained 4.3 percent this year, underperforming the 61.5-percent rise for the Taiwan market.
The stock closed up 0.6 percent on Friday ahead of the revenue data release. The benchmark index ended the day flat.
*****
Credit belongs to : www.manilatimes.net
