Tech giant Foxconn beats forecasts with third-quarter profit jump

TAIPEI

The logo of Foxconn is seen on a screen during the keynote speech of Foxconn Chairman Young Liu for Computex 2025 at the Taipei Nangang Exhibition Center Hall in Taipei on May 20, 2025. (AFP File Photo)

Taiwanese tech giant Foxconn reported a forecast-beating net profit for the third quarter on Nov. 12 as the global buildout of data centres fuels demand for the artificial intelligence servers needed to operate them.

Foxconn, the world’s largest electronics contract manufacturer, has gone beyond making low-margin iPhones to producing AI servers for U..S tech titan Nvidia, as well as electric vehicles and robots.

Its shares and those of other tech firms plunged last week on fears that U.S. Democrats could use their newly won control of Congress to ramp up regulation of AI and slow the data centre expansion.

Foxconn partner Nvidia has also weighed on sentiment, with U.S. media reporting the company’s board is preparing to oust CEO Jensen Huang after revelations of his extramarital affairs, including with an alleged Chinese spy.

Foxconn said net profit for July-September hit NT$77.5 billion ($2.4 billion), up 34 percent on-year.

The result beat estimates of NT$70.3 billion in a Bloomberg survey of analysts.

“Profitability continues to improve” and AI server demand looked “strong” moving forward, the company said in its earnings report.

Revenue for the three months was up 39 percent at NT$7.7 trillion.