Foxconn third-quarter revenue jumps 47% y/y, beats market forecast

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

TAIPEI: Taiwan's Foxconn, the world's largest contract electronics maker and Nvidia's biggest server maker, reported on Monday a jump of 47% in third-quarter revenue year on year that beat market forecasts, fuelled by strong AI-related demand.

Revenue for the quarter from July to September was T$3.03 trillion ($95.39 billion), Foxconn said in a statement, well above the LSEG SmartEstimate of T$2.83 trillion that gives greater weight to forecasts from analysts who are more consistently accurate. - Reuters