Electronics giant Foxconn's first-quarter profit surges 91% on year

FILE PHOTO: A Foxconn high energy density solid-state lithium metal battery is displayed at Foxconn’s annual tech day in Taipei, Taiwan, October 8, 2024. REUTERS/Ann Wang/File Photo

TAIPEI (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker, on Wednesday said first-quarter profit leapt 91% on continued strong demand for artificial intelligence servers.

Net profit for January-March for Apple's top iPhone assembler and Nvidia's server maker came in at T$42.12 billion ($1.4 billion), versus an LSEG consensus estimate of T$37.8 billion and compared with T$22.01 billion a year earlier.

($1 = 30.2580 Taiwan dollars)

(Reporting by Ben Blanchard, Wen-Yee Lee and Yimou Lee; Editing by Christopher Cushing)