Foxconn, the world’s largest contract electronics manufacturer based in Taiwan, on Thursday, November 14, released information about its earnings in the third quarter of the current year.

The mentioned indicators showed growth. The corresponding upward dynamic is largely a result of the high level of consumer demand for artificial intelligence servers. The company also said that next year will be the year of AI. It is worth noting that this statement can be interpreted as a statement of the rapid development of the artificial intelligence industry, which generates significant positive economic effects for many technology companies. In the relevant context, the beneficiaries are manufacturers of chips and equipment for making microcircuits, and producers of servers.

Net profit of Foxconn for the third quarter of the current year was fixed at NT$49.3 billion (US$1.5 billion). This indicator showed an increase of 14% year-on-year. It’s worth noting that analysts interviewed by the media predicted that the company’s net profit for the third quarter of 2024 would be fixed at NT$45.9 billion.

Foxconn’s revenue for July-September of the current year was NT$1.9 trillion. This indicator increased by 20% compared to the figure for the same period in 2023.

Chairman of the company Young Liu said that revenue from the sale of artificial intelligence servers in the first three quarters of 2024 more than doubled year-on-year. Also, according to him, the share of mentioned sales in the total revenue structure is more than 40%.

As we have reported earlier, Foxconn to Invest $551 Million in Vietnam.