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Apple's iPhone assembler Foxconn saw a 3% year-on-year increase in revenue in November, and the outlook for the fourth quarter is positive.
Foxconn Technology's (OTCPK: FXCOF) revenue in November increased by 3.47% compared to the previous year, but decreased by 16.43% compared to October 2024.
Outlook: However, supplier to Apple known as Hon Hai Precision (OTCPK: HNHAF) (OTCPK: HNHPF) mentioned that the second half of this year is traditionally the peak season for the Information and Communications Technology (ICT) industry, so business is expected to gradually pick up momentum on a quarterly basis.
According to the company, significant growth is expected in both quarterly and annual operations in the fourth quarter.
November revenue: Foxconn reported revenue of 6725.9 billion Taiwanese dollars, a 3.47% increase compared to the previous year, reflecting the second highest number in the same period (November 2020 ranked highest with 681.4 billion Taiwanese dollars).
However, as the company generated 80.485 billion Taiwanese dollars in October, there was a 16.43% decrease compared to the previous month.
Month-to-month: Foxconn stated that Computing Products showed strong growth due to strong demand from the release of new key products, while the revenue from Components and Other Products remained flat compared to the previous month, maintaining stable performance.
According to Foxconn, in the Cloud and Networking Product segments, AI continued to drive the demand for servers, but there was a decrease compared to the previous month as the products entered a transition period between old and new models.
Revenue from the Smart Consumer Electronics division in November declined compared to October, citing a high base from the previous month due to demand for new product introductions ahead of China's Singles' Day sales and Thanksgiving holidays.
The company stated that the revenue of the cloud and networking product segments saw a significant increase due to strong demand for AI servers compared to the previous year.
Foxconn noted that the revenue of the Computing Products segment experienced strong growth compared to the previous year due to high demand for this year's new products.
Revenue from the components and other product divisions saw strong growth due to increased shipments of major components and growth in the automobile-related business.
However, the company added that revenue from Smart Consumer Electronics decreased compared to the previous year due to conservative demand.
Last month, Foxconn reported a 20% increase in revenue for the third quarter compared to the previous year, and stated that the company sees 2025 as the group's "AI year".
Foxconn is scheduled to report December's revenue on January 5th.
Outlook: However, supplier to Apple known as Hon Hai Precision (OTCPK: HNHAF) (OTCPK: HNHPF) mentioned that the second half of this year is traditionally the peak season for the Information and Communications Technology (ICT) industry, so business is expected to gradually pick up momentum on a quarterly basis.
According to the company, significant growth is expected in both quarterly and annual operations in the fourth quarter.
November revenue: Foxconn reported revenue of 6725.9 billion Taiwanese dollars, a 3.47% increase compared to the previous year, reflecting the second highest number in the same period (November 2020 ranked highest with 681.4 billion Taiwanese dollars).
However, as the company generated 80.485 billion Taiwanese dollars in October, there was a 16.43% decrease compared to the previous month.
Month-to-month: Foxconn stated that Computing Products showed strong growth due to strong demand from the release of new key products, while the revenue from Components and Other Products remained flat compared to the previous month, maintaining stable performance.
According to Foxconn, in the Cloud and Networking Product segments, AI continued to drive the demand for servers, but there was a decrease compared to the previous month as the products entered a transition period between old and new models.
Revenue from the Smart Consumer Electronics division in November declined compared to October, citing a high base from the previous month due to demand for new product introductions ahead of China's Singles' Day sales and Thanksgiving holidays.
The company stated that the revenue of the cloud and networking product segments saw a significant increase due to strong demand for AI servers compared to the previous year.
Foxconn noted that the revenue of the Computing Products segment experienced strong growth compared to the previous year due to high demand for this year's new products.
Revenue from the components and other product divisions saw strong growth due to increased shipments of major components and growth in the automobile-related business.
However, the company added that revenue from Smart Consumer Electronics decreased compared to the previous year due to conservative demand.
Last month, Foxconn reported a 20% increase in revenue for the third quarter compared to the previous year, and stated that the company sees 2025 as the group's "AI year".
Foxconn is scheduled to report December's revenue on January 5th.
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