Hon Hai (Foxconn), the world’s largest electronics manufacturer, entered at 52,281 million euros in the third quarter, a record for this time of year thanks to global demand for servers for artificial intelligence (AI).
In a statement released this Saturday, the New Taipei-based company said its revenue for the third quarter of 2024 increased by 20.15% compared to the same period of the previous year. “exceeding the company’s initial forecasts”which had forecast “significant growth” in its sales between July and September.
This result marks a new record for the Taiwanese technology company for a third quarter, surpassing the figure of 49.252 million euros recorded between July and September 2022.
These good figures can be explained by the “strong demand” for servers for artificial intelligence and due to increased sales of electronic components, the statement said.
Likewise, Foxconn obtained revenues equivalent to 20.674 million euros in September, which represents an interannual advance of 10.94% and marked the company’s second best all-time data for the ninth month of the year.
In the first nine months of 2024, Foxconn’s sales totaled 133.338 million euros, an advance of 9.73% compared to the same period last year.
The technology company, which will report its third-quarter financial results on November 14, expects its operations to gain “gradual momentum” in the final months of the year and predicts that the fourth quarter will be “more or less less in line with current expectations. “from the market”.
Founded in 1974, Foxconn is the world’s largest contract electronics manufacturer, with factories and research centers in China, India, Japan, Vietnam and the United States, among other countries.
Last March, Foxconn Chairman and CEO Young Liu predicts the company will grow by 40% its turnover this year in the AI-based server segment, which led to an upward revision of its growth outlook for 2024.
The Taiwanese company will hold its annual technology conference, Hon Hai Tech Day, next week, which will be attended by executives from the American company Nvidia and the German company Siemens.
Foxconn’s market value has increased 84.7% so far this year, up to approximately 75.868 million euros.
