Economy

Foxconn reiterates Q2 revenue to grow, posts record April sales

Date: May 5, 2024

Taiwan's Foxconn, the world's largest contract electronics maker and the biggest assembler of Apple's iPhone, reiterated on Sunday it expected a rise in second-quarter revenue, and reported record sales for the month of April.

Foxconn said in a statement that this year's second quarter "remains a traditional off-peak season, and major products are entering a period of transition between old and new products".

But it added: "The operations outlook for the second quarter is expected to show both quarter-on-quarter and year-on-year growth".

The statement did not elaborate and the company does not give numerical guidance.

The company, formally called Hon Hai Precision Industry Co Ltd, said April revenue reached $15.83 billion, which it said was the highest figure on record for the same period and represented an on-year rise of 19%.

Revenue in its smart consumer electronics products, including smartphones, in April showed "significant growth" year-on-year, it said.

Strong artificial intelligence (AI) server demand also delivered "strong growth" in April on-year for its cloud and networking products segment, the company added.

The monthly sales data comes ahead of Foxconn's first-quarter earnings call on May 14.

--Reuters--

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