Overview
- Foxconn reported first-quarter revenue of T$2.13 trillion, up 29.7% year on year, narrowly missing the T$2.148 trillion LSEG SmartEstimate.
- Strong demand for artificial intelligence hardware drove gains in the cloud and networking unit, which makes servers and racks for data centers.
- Sales in March reached a record T$803.7 billion, a 45.6% rise from the same month last year.
- The company warned that volatile global politics and economics could affect costs and operations, and Chairman Young Liu highlighted the Middle East war as the biggest external risk.
- Investors will parse full first-quarter earnings on May 14, as the stock is down about 16% this year and has lagged Taiwan’s broader market.