Foxconn, a leading electronics manufacturer, announced record-breaking revenue for Q2 2024, driven by increased demand for AI and cloud services.
Record Revenue Figures
Taiwanese electronics giant Foxconn, formally known as Hon Hai Precision Industry Co. Ltd, reported Q2 revenue of T$1.797 trillion (approximately $55.2 billion), marking a 15.82% year-on-year increase. This figure surpassed market expectations, outpacing the forecast of T$1.7896 trillion. The growth was driven largely by demand for AI and cloud computing products.
Global Risks and Future of Foxconn
Despite impressive Q2 performance, Foxconn emphasized the need for caution due to evolving political and economic circumstances globally. The potential impact of exchange rate fluctuations and trade tensions, particularly from the U.S., raised concerns for the company's future performance.
Company Financial Performance
Foxconn’s stock surged 76% in 2023 but has seen a decline of 12.5% in 2025 thus far. The company's shares closed down 1.83% before the revenue announcement on Friday, compared to a 0.73% drop in Taiwan's broader market index. The full second-quarter earnings report is set to be released on August 14.
Foxconn's Q2 results highlight the significance of AI and cloud technologies for the company's growth. At the same time, global economic risks could impact financial performance in the future.
