$TRX $AAPLB $NVDAB
Foxconn Q3 revenue surges 47% year over year, topping NT$3 trillion as strong AI server demand drives performance
Taiwanese contract manufacturing giant Foxconn (鴻海, 2317) released its latest financial figures on Monday. Benefiting from the global boom in AI hardware deployment, its third-quarter revenue surged 47% year over year to more than NT$3 trillion, significantly exceeding market analysts’ estimates. Growth was primarily driven by orders for cloud servers and consumer electronics, demonstrating that the AI supply chain remains well balanced and is continuing to grow steadily during the year-end peak season.
Q3 financial results beat market expectations
Foxconn’s revenue from July to September reached NT$3.03 trillion (approximately US$95.4 billion), up 47% year over year. This was significantly higher than the NT$2.83 trillion forecast by analysts surveyed for LSEG (London Stock Exchange Group)’s SmartEstimate.
In September, revenue rose 38.42% year over year to NT$1.16 trillion, setting a new monthly record and marking the first time the company’s revenue had surpassed NT$1 trillion in a single month. Supported by new product launches from key customers and demand for data center construction, both the cloud and networking products and smart consumer electronics divisions posted substantial growth.
Foxconn’s announcement did not disclose all the details. Its full third-quarter financial report and detailed profit figures are expected to be released on November 12. (Foxconn Q2 revenue reaches NT$2.51 trillion as AI hardware demand drives sales to a record high for the same period)
Q4 outlook steady
As a key manufacturing partner for Nvidia and Apple, Foxconn said AI-related demand would continue into the fourth quarter. Combined with the traditional peak season for consumer electronics orders, overall performance is expected to meet current market forecasts.
Analysts revise price targets
Following Foxconn’s earnings conference, foreign analysts updated their reports. Citi, citing rising demand for servers and high-speed networking, maintained its “Buy” rating and raised its price target from NT$360 to NT$400. Nomura also maintained its “Buy” rating and raised its price target to NT$435.
Foxconn shares have gained 10% this year, underperforming the Taiwan Weighted Index, which has risen 72%. On Monday, before the revenue figures were announced, the stock closed up 1.2%, while the benchmark index closed up 2.6% for the day.
Key takeaways
Strong Q3 revenue growth: Third-quarter revenue reached NT$3.03 trillion, up 47% year over year and exceeding the SmartEstimate forecast of NT$2.83 trillion.
Record monthly high: September revenue reached NT$1.16 trillion, up 38.42% year over year, marking the first time monthly revenue had topped NT$1 trillion.
Growth driven by two engines: Growth was primarily driven by demand for Nvidia AI server deployments and strong orders for Apple’s new iPhone models.
Optimistic fourth-quarter outlook: AI business momentum is expected to continue, with results forecast to meet market expectations amid the traditional peak season.
Foreign broker ratings: Citi and Nomura raised their price targets to NT$400 and NT$435, respectively, while maintaining their “Buy” ratings.
This article, “Foxconn Q3 revenue surges 47% year over year, topping NT$3 trillion as strong AI server demand drives performance,” first appeared at .
Foxconn Q3 revenue surges 47% year over year, topping NT$3 trillion as strong AI server demand drives performance
Taiwanese contract manufacturing giant Foxconn (鴻海, 2317) released its latest financial figures on Monday. Benefiting from the global boom in AI hardware deployment, its third-quarter revenue surged 47% year over year to more than NT$3 trillion, significantly exceeding market analysts’ estimates. Growth was primarily driven by orders for cloud servers and consumer electronics, demonstrating that the AI supply chain remains well balanced and is continuing to grow steadily during the year-end peak season.
Q3 financial results beat market expectations
Foxconn’s revenue from July to September reached NT$3.03 trillion (approximately US$95.4 billion), up 47% year over year. This was significantly higher than the NT$2.83 trillion forecast by analysts surveyed for LSEG (London Stock Exchange Group)’s SmartEstimate.
In September, revenue rose 38.42% year over year to NT$1.16 trillion, setting a new monthly record and marking the first time the company’s revenue had surpassed NT$1 trillion in a single month. Supported by new product launches from key customers and demand for data center construction, both the cloud and networking products and smart consumer electronics divisions posted substantial growth.
Foxconn’s announcement did not disclose all the details. Its full third-quarter financial report and detailed profit figures are expected to be released on November 12. (Foxconn Q2 revenue reaches NT$2.51 trillion as AI hardware demand drives sales to a record high for the same period)
Q4 outlook steady
As a key manufacturing partner for Nvidia and Apple, Foxconn said AI-related demand would continue into the fourth quarter. Combined with the traditional peak season for consumer electronics orders, overall performance is expected to meet current market forecasts.
Analysts revise price targets
Following Foxconn’s earnings conference, foreign analysts updated their reports. Citi, citing rising demand for servers and high-speed networking, maintained its “Buy” rating and raised its price target from NT$360 to NT$400. Nomura also maintained its “Buy” rating and raised its price target to NT$435.
Foxconn shares have gained 10% this year, underperforming the Taiwan Weighted Index, which has risen 72%. On Monday, before the revenue figures were announced, the stock closed up 1.2%, while the benchmark index closed up 2.6% for the day.
Key takeaways
Strong Q3 revenue growth: Third-quarter revenue reached NT$3.03 trillion, up 47% year over year and exceeding the SmartEstimate forecast of NT$2.83 trillion.
Record monthly high: September revenue reached NT$1.16 trillion, up 38.42% year over year, marking the first time monthly revenue had topped NT$1 trillion.
Growth driven by two engines: Growth was primarily driven by demand for Nvidia AI server deployments and strong orders for Apple’s new iPhone models.
Optimistic fourth-quarter outlook: AI business momentum is expected to continue, with results forecast to meet market expectations amid the traditional peak season.
Foreign broker ratings: Citi and Nomura raised their price targets to NT$400 and NT$435, respectively, while maintaining their “Buy” ratings.
This article, “Foxconn Q3 revenue surges 47% year over year, topping NT$3 trillion as strong AI server demand drives performance,” first appeared at .
