{"slug": "taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand", "title": "Taiwan's Foxconn reports 35% rise in Q2 profit on AI demand", "summary": "Taiwan's Foxconn, the world's largest contract electronics maker, reported a 35% rise in second-quarter net profit to NT$59.97 billion (US$1.86 billion), beating analyst estimates, driven by strong demand for AI. The company, which is Nvidia's biggest server maker and Apple's top iPhone assembler, maintained its forecast of 'strong' revenue growth for the year and said AI demand would drive growth throughout 2024.", "body_md": "# Taiwan's Foxconn reports 35% rise in Q2 profit on AI demand\n\nIt stuck to its previous forecast of “strong” growth for revenue this year\n\n[TAIPEI] Taiwan’s Foxconn, the world’s largest contract electronics maker, reported on Wednesday (Aug 12) a 35 per cent rise in second-quarter profit, beating analyst forecasts, on continued strong demand for AI, which it predicted would drive growth this year.\n\nNet profit for the April to June period for Nvidia’s biggest server maker and Apple’s top iPhone assembler was NT$59.97 billion (US$1.86 billion), versus an LSEG consensus estimate of NT$58.8 billion and compared with NT$44.4 billion a year earlier.\n\nIn an earnings release, it stuck to its previous forecast of “strong” growth for revenue this year and said it also saw strong AI demand driving growth throughout the year. The company does not give numeric forecasts.\n\nFoxconn, formally called Hon Hai Precision Industry, in July reported a 40 per cent year-on-year jump in second-quarter revenue.\n\nMost of the iPhones Foxconn makes for Apple are assembled in China, but it now produces the bulk of those sold in the United States in India. The company is also building factories in Mexico and Texas to make AI servers for Nvidia.\n\nFoxconn has also been looking to expand its footprint in electric vehicles.\n\nThe company’s shares have risen 17 per cent so far this year, underperforming the broader Taiwan index’s 57 per cent gain.\n\nFoxconn shares closed 2.7 per cent higher on Wednesday. REUTERS\n\nDecoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.\n\nShare with us your feedback on BT's products and services\n\n[TRENDING NOW](/pulse?ref=trending-now)\n\nTwo-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023\n\nHow BYD disrupted Singapore’s car market – and why the strategy is turning on itself\n\nAfter a strong Q2, what’s next for Singapore banks? Analysts see DBS, OCBC ahead on wealth\n\nLaos-China Railway picks up steam, but S-E Asian country struggles to capture gains", "url": "https://wpnews.pro/news/taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand", "canonical_source": "https://www.businesstimes.com.sg/companies-markets/taiwans-foxconn-reports-35-rise-q2-profit-ai-demand", "published_at": "2026-08-12 06:58:26+00:00", "updated_at": "2026-08-12 07:05:24.948239+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure"], "entities": ["Foxconn", "Hon Hai Precision Industry", "Nvidia", "Apple", "LSEG"], "alternates": {"html": "https://wpnews.pro/news/taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand", "markdown": "https://wpnews.pro/news/taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand.md", "text": "https://wpnews.pro/news/taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand.txt", "jsonld": "https://wpnews.pro/news/taiwan-s-foxconn-reports-35-rise-in-q2-profit-on-ai-demand.jsonld"}}