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Apple assembler Foxconn’s Q2 net profit expected to rise 14% YoY

MacDailyNews

Aug 13

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The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse

Foxconn, the world’s leading contract electronics manufacturer and a key assembler for Apple, is anticipated to announce on Thursday a 14% year-over-year increase in second-quarter profit, driven by robust demand for artificial intelligence servers. The company, also a major server supplier for Nvidia, is expected to report a net profit of T$39.8 billion ($1.33 billion) for April-June, compared to T$35.05 billion in the same period last year.

Reuters:
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Foxconn, formally called Hon Hai Precision Industry, last month reported record second-quarter revenue on strong demand for AI products but cautioned about geopolitical and exchange rate headwinds.
Global trade uncertainty could dim the prospects for its outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing this week extended a tariff truce for another 90 days.
Most of the iPhones Foxconn makes for Apple are assembled in China, but the bulk of those sold in the United States are now produced in India. The company is also building factories in Mexico and Texas to make AI servers for Nvidia.
Foxconn holds its earnings call at 3 p.m. (0700 GMT) in Taipei on Thursday, where it will also update its outlook for the year.
Foxconn’s shares have risen 7.9% so far this year, outperforming the broader Taiwan index’s 5.8% gain.

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