Foxconn First-Quarter Revenue Jumps 29.7% on AI Demand

Taiwan’s Foxconn reported a 29.7% year-on-year increase in first-quarter revenue, driven by strong demand for artificial intelligence products.

Foxconn facility operations as the company reports strong growth driven by AI demand. (Photo: NVIDIA)

The world’s largest contract electronics manufacturer posted revenue of T$2.13 trillion ($66.6 billion), slightly below analyst expectations, Reuters reported.

Growth was fueled by its cloud and networking division, which benefited from rising demand for AI servers. Its consumer electronics segment, including iPhone assembly, also saw significant gains due to new product launches.

March revenue alone rose 45.6% year-on-year, marking a record for the month.

Foxconn said it expects continued growth in the second quarter but warned that global political and economic uncertainty could affect performance.