Hon Hai's Q2 Profit Surges 6% on Record Revenue, AI Demand

Aug 14, 2024, 06:35 AM

Hon Hai, also known as Foxconn, reported a better-than-expected profit for the second quarter of 2024. The company's earnings per share were NT$2.53, slightly below the estimated NT$2.56. However, net income reached NT$35 billion, surpassing the estimated NT$34.5 billion. Operating profit was NT$44.6 billion, exceeding the forecast of NT$41.06 billion. The company's net profit rose by 6% year-on-year, driven by strong demand for servers powering AI applications. This performance highlights the company's ability to capitalize on the growing AI market, contributing to record revenue for the quarter.