Foxconn’s first-quarter revenue jumped by 29.7% year-on-year thanks to increased demand for AI products. The Taiwanese electronics giant cautioned against global political volatility despite this growth. Revenue from Nvidia’s largest server manufacturer and Apple’s largest iPhone assembler reached 2.13 trillion Taiwanese dollars, slightly below estimates. Strong demand for AI products drove revenue growth in Foxconn’s cloud and network products division. March revenue alone surged by 45.6% year-on-year, reaching a record high. Operations are expected to increase both quarterly and annually in the second quarter, with AI products showing consistent growth. However, Foxconn warned of monitoring the impact of global political and economic volatility. The company will release its full first-quarter results on May 14. Foxconn’s stock dropped by 16% this year, lower than the 12% rise in the Taiwanese market index. The financial markets in Taiwan were closed on Friday for a holiday and will resume on Tuesday. (1 USD = 31.9800 Taiwanese dollars)
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