Foxconn’s Fourth-Quarter Revenue Surges Beyond Expectations
Taiwan’s Foxconn recorded its highest-ever fourth-quarter revenue in 2024, surpassing analysts’ expectations. Driven by increased demand for AI server products, the company achieved a 15.2% revenue growth, amounting to TWD 2.13 trillion (USD 64.72 billion), according to a Reuters report.
Foxconn, Apple’s largest iPhone assembler and a supplier for AI chipmakers like Nvidia, attributed this success to rising demand in its cloud and networking products division. However, growth in its smart consumer electronics segment, which includes iPhones, remained relatively flat.
In December alone, Foxconn’s total revenue reached TWD 654.8 billion, marking a 42.3% year-over-year increase and making it the second-highest monthly revenue in the company’s history.
Looking ahead to the first quarter of 2025, Foxconn stated, “The current quarter has traditionally entered the off-season. However, significant growth compared to the previous year is expected.”
In 2024, Foxconn’s share price soared by 76%, far outperforming Taiwan’s overall market growth of 28.5%. Despite this remarkable annual increase, the company’s shares fell by 0.8% on Friday.
Foxconn is scheduled to release its full fourth-quarter earnings report on March 14.
