TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, reported a 34% increase in third-quarter net profit on Thursday, beating analyst expectations amid continued strong demand for artificial intelligence (AI) infrastructure.
Net profit for the July-September period reached T$77.5 billion ($2.35 billion), compared with T$57.7 billion in the same period a year earlier, according to the company’s results.
The figure exceeded the LSEG analyst consensus estimate of T$69.6 billion.
Foxconn is Nvidia’s largest server manufacturer and Apple’s leading iPhone assembler, positioning the company to benefit from sustained demand for AI-related hardware and consumer electronics.
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