Reuters: Foxconn's Second Quarter Revenue Hits New High, AI Business Strong but Risks Remain
Reuters, July 5 - The world's largest electronics manufacturer, Foxconn (2317.TW), announced record revenue for the second quarter today, driven by strong demand for artificial intelligence products. Its quarterly revenue increased by 15.82% year-on-year to 1.797 trillion new Taiwan dollars, exceeding the SmartEstimate forecast of 1.7896 trillion new Taiwan dollars by London Stock Exchange Group (LSEG). Foxconn stated that the strong demand for AI chips from its clients has driven significant growth in its cloud and network product divisions; however, the company also warned that the evolution of geopolitical situations and exchange rate fluctuations pose ongoing risks. Revenue from smart consumer electronics, including iPhones, remained flat year-on-year due to the impact of exchange rates. Monthly revenue in June reached 540.237 billion new Taiwan dollars, an increase of 10.09% year-on-year, also setting a new high for that month. Foxconn expects performance to continue growing this quarter, but emphasized that "the impact of global political and economic developments and exchange rate changes needs to be closely monitored." The company will release its full second-quarter financial results on August 14. Since the beginning of the year, Foxconn's stock has fallen 12.5%, reflecting the broad pressure on tech stocks caused by Trump's volatile trade policies.
Original article: https://www.toutiao.com/article/1836798128811466/
Statement: This article represents the views of the author.