Foxconn Q3 Revenue Up 20% to NT$1.85 Trillion

On November 14, Foxconn (Hon Hai Precision Industry Co., Ltd.) reported its financial results for the third quarter of 2024, showing impressive growth across key metrics. The company's revenue reached NT$1.85 trillion, marking a 20% quarter-over-quarter increase and a 20% year-over-year growth. Net profit for the quarter totaled NT$493.25 billion, setting a new record and reflecting a 41% increase from the previous quarter and a 14% rise compared to the same period last year. Foxconn's earnings per share (EPS) for Q3 were NT$3.55, up from NT$2.53 in Q2 and NT$3.11 in Q3 of the previous year.

Breaking down the revenue distribution for Q3, consumer electronics accounted for 45%, cloud network services represented 32%, computer products made up 17%, and other components contributed 6%.

Looking ahead to Q4, Foxconn forecasts continued growth both quarter-over-quarter and year-over-year. Of the four main product categories, consumer electronics and other components are expected to see strong sequential growth, while cloud network services are projected to remain stable. However, computer products are anticipated to experience a decline.

For the full year 2024, Foxconn is poised to outperform 2023, with robust growth in cloud network services and other components, significant gains in computer products, and a slight decline in consumer electronics.