Foxconn reported a 20.2% year-over-year increase in third-quarter revenue, reaching T$1.85 trillion ($57.3 billion) and surpassing market expectations.
Foxconn, Apple's biggest iPhone assembler, attributed this record-breaking performance to strong demand for artificial intelligence (AI) servers, which boosted Foxconn's cloud and networking products division Meanwhile, the smart consumer electronics segment, which includes iPhones, saw strong quarter-on-quarter growth following new product launches, though its year-on-year performance remained flat.
September alone saw revenue reach T$733 billion, up 10.9% year-on-year and marking the second-highest ever level for the month.
Foxconn's shares have surged 86% so far this year, significantly outperforming the broader Taiwan market's 24% rise. On the day of the announcement, shares closed up 3.7%, contrasting with a 0.4% fall in the benchmark index.The company is set to report its full third-quarter earnings on November 14.