Foxconn revenue surges on AI boom, warns of risks
Foxconn posted a sharp rise in first-quarter revenue, driven by booming demand for artificial intelligence products, but warned that global political tensions could cloud its outlook.
The world’s largest contract electronics maker reported a 29.7% year-on-year increase, highlighting the growing impact of AI across its business, News.Az reports, citing Reuters.
Revenue climbed to T$2.13 trillion ($66.6 billion), supported by strong orders in cloud and networking products linked to AI development.
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As a key supplier to Nvidia and assembler for Apple iPhones, Foxconn continues to benefit from both the AI boom and new consumer device launches.
The company said its smart consumer electronics segment also saw “significant” growth, boosted by new product releases.
March alone delivered standout results, with revenue jumping 45.6% year-on-year to a record T$803.7 billion for the month.
Foxconn expects momentum to continue into the second quarter, with AI server racks remaining a major growth driver.
Despite the strong performance, Foxconn flagged risks ahead.
Chairman Young Liu previously identified global political and economic instability—particularly conflicts in the Middle East—as the company’s biggest external challenge this year.
The company reiterated that it will need to closely monitor the “volatile” geopolitical environment.
Foxconn, formally known as Hon Hai Precision Industry, does not issue detailed forecasts but confirmed it will release full first-quarter earnings on May 14.
Shares of Foxconn have fallen 16% this year, lagging behind the broader Taiwan market.
By Aysel Mammadzada
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