TAIPEI, Aug 5 (Reuters) – Monthly revenue at Taiwanese contract electronics manufacturer Foxconn hit a record \u200cin July, surpassing T$900 billion ($27.93 billion) for \u200cthe first time as strong demand for AI products boosted sales, \u200bthe company said on Wednesday. <\/p>\n
Foxconn, a major supplier to Nvidia<\/a> and Apple<\/a>, said revenue last month rose 54.2% from a year earlier to T$946.5 billion. <\/p>\n Its cloud \u200cand networking products division, \u2060which includes AI servers, saw strong growth, benefiting from “strong pull-in momentum for AI \u2060products”, the company said. <\/p>\n Its smart consumer electronics division, which includes smartphones, also posted strong growth. <\/p>\n “Looking ahead to \u200bthe third \u200bquarter, AI rack shipments \u200bare expected to maintain \u200cgrowth, and operations will gradually gain momentum as ICT products enter peak season,” Foxconn said, referring to information and communication technologies. <\/p>\n The company expects both quarter-on-quarter and year-on-year growth in the third quarter, but said \u200cit remained “necessary to monitor the \u200bimpact of the volatile global \u200bpolitical and economic situation”. <\/p>\n Foxconn, \u200bformally called Hon Hai Precision Industry, \u200cdoes not provide numerical forecasts. <\/p>\n The \u200bcompany is \u200bdue to report full second-quarter earnings on August 12. <\/p>\n Its shares closed up 3.4% before the revenue \u200bdata was released, \u200coutperforming the broader market’s 2.9% gain. <\/p>\n ($1 = 32.2240 \u200bTaiwan dollars) <\/p>\n (Reporting by Ben Blanchard; Editing by Kate \u200bMayberry and Mark Potter) <\/p>\n","protected":false},"excerpt":{"rendered":"TAIPEI, Aug 5 (Reuters) – Monthly revenue at Taiwanese contract electronics manufacturer Foxconn hit a record \u200cin July,…\n","protected":false},"author":2,"featured_media":130038,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[24,25,7027,65081,65080],"class_list":["post-130037","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ai","tag-ai","tag-artificial-intelligence","tag-foxconn","tag-ict-products","tag-networking-products-division"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/130037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=130037"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/130037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/130038"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=130037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=130037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=130037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}