Apple supplier Foxconn sees strong 2024 as Q4 beats forecasts [CNBC]
HON HAI PRECSON S/GDR NEW (HNHPF)
NASDAQ:AMEX Investor Relations:
foxconn.com/investors_en/investors.html
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Source: CNBC
for AI servers, after it posted fourth-quarter profit that beat market estimates. The outlook has turned rosier since Foxconn Chairman Young Liu said in November the world's largest contract electronics maker had “relatively conservative and neutral” expectations for 2024. The Taiwanese company said October-December net profit jumped 33% to T$53.14 billion ($1.69 billion) from T$40 billion in the same period the previous year thanks to robust demand for AI servers and strong sales during the peak year-end holiday season. The profit beat a T$43.52 billion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate. In the fourth quarter, consumer electronics including smartphones accounted for 58% of revenue while cloud and networking products, including servers, contributed 20%. Foxconn said it expects revenue for the first quarter to slightly decline from a year earlier, with revenue for smart computer electronics also likely
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