Foxconn Achieved a 17% Increase in Earnings in the Third Quarter

Based in Taiwan, Foxconn, the world's largest contract electronics manufacturer, announced that it exceeded market expectations by increasing its third-quarter profit by 17%. The continuous demand for artificial intelligence servers played a significant role in the company achieving this success.

In the July-September period of 2023, Foxconn, which is the largest server producer for Nvidia and the largest assembler of iPhones for Apple, reported a net profit of T$57.67 billion ($1.89 billion). This figure is significantly higher than the T$50.4 billion consensus estimate from LSEG.

($1 = 30.5930 New Taiwan Dollar)