Foxconn's Q1 profit to jump from low base, AI to power growth

FILE PHOTO: Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago.

Last month, the company said first-quarter revenue slid 10% from a year earlier but it has been bullish about 2024.