Nvidia supplier Foxconn's profit surges; outlook clouded by tariffs

FILE PHOTO: A Foxconn electric two-wheeler powertrain system is displayed at Foxconn’s annual tech day in Taipei, Taiwan October 8, 2024. REUTERS/Ann Wang/File Photo

TAIPEI: Taiwan's Foxconn, the world's largest contract electronics maker, said on Wednesday quarterly profit leapt 91%, beating forecasts, thanks to strong demand for AI servers, although the outlook was overshadowed by tariff uncertainty.

Net profit for January-March for Apple's top iPhone assembler and Nvidia's server maker came in at T$42.12 billion ($1.39 billion), versus the T$37.8 billion average of 13 analyst estimates compiled by LSEG.