Foxconn reported a 29.7% year-on-year increase in first-quarter revenue, driven by strong demand for artificial intelligence infrastructure and consumer electronics.
The Taiwanese manufacturer, formally known as Hon Hai Precision Industry, posted revenue of T$2.13 trillion ($66.6 billion). Growth was fueled primarily by its cloud and networking division, which supplies servers and hardware for AI systems, including those linked to Nvidia.
Foxconn also benefited from increased sales in its smart consumer electronics segment, including its role as a major assembler for Apple’s iPhones. March revenue alone rose 45.6% year-on-year, marking a record for the month.
The company expects continued growth in the second quarter, particularly in AI-related hardware such as server racks. However, it warned that geopolitical and economic uncertainty could impact future performance.
Chairman Young Liu highlighted global instability, including conflicts in the Middle East, as a key external risk factor for the business.
Despite strong revenue growth, Foxconn’s shares have declined about 16% this year, underperforming the broader Taiwanese market.
The results underscore how AI-driven demand is reshaping the electronics supply chain, while also exposing manufacturers to geopolitical volatility.
