Nvidia supplier Foxconn third-quarter profit beats expectations, rising 17% on AI demand [MSNBC.com]
HON HAI PRECSON S/GDR NEW (HNHPF)
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Source: MSNBC.com
Foxconn, the world's largest contract electronics maker, said Wednesday that its third-quarter profit jumped 17% from a year earlier, driven by growth in its artificial intelligence server business.Here's howFoxconn, formally known as Hon Hai Precision Industry, is best known as the world's largest manufacturer ofAppleNvidiaThe company said it expects operations in the second half of the year — the traditional peak season — to maintain continuous quarterly growth, citing stronger server shipments and rising demand for information and communications technology products.However, Foxconn cautioned that global political and economic uncertainty, along with exchange rate fluctuations, will require continued close monitoring.Foxconn reported that its 'Cloud and Networking' segment saw strong year-on-year growth, supported by demand for server racks.Foxconn's server manufacturing business is currently in a strong growth phase, underpinned by robust demand, Ivan Lam, a senior analyst at Cou
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