Foxconn Q4 2024 Revenue Hits a Record NT$4.74 Trillion

On January 5, 2025, Foxconn Technology Group announced its performance for December 2024 and the fourth quarter, achieving the second-highest monthly revenue in its history and setting a new all-time quarterly revenue record.

In December 2024, Foxconn's consolidated revenue reached NT$654.83 billion (approximately RMB 147.5 billion). Despite a typical seasonal decline of 2.64% year-on-year, the company saw a significant 42.31% increase compared to the previous year, marking the second-highest performance for the same period in its history.

For the fourth quarter of 2024, Foxconn reported consolidated revenue of NT$2.1323 trillion (approximately RMB 474 billion), a 15.03% increase from the previous quarter and a 15.17% year-on-year growth. This achievement not only set a new quarterly record but also helped drive 2024's full-year revenue to a record high, surpassing both the company's and market expectations.

In 2024, Foxconn's full-year consolidated revenue reached NT$6.8599 trillion, reflecting an 11.37% increase year-on-year. This marked the highest annual revenue in its history, driven by growth across its three major business segments: cloud networking, components and others, and computer terminals.

Despite the seasonal slowdown traditionally seen in December and the first quarter, Foxconn managed to maintain relatively stable performance in December 2024. The company's revenue only experienced a modest month-on-month decline of less than 3%, while posting an impressive 42% year-on-year growth. This reflects Foxconn's ongoing product diversification efforts, with less reliance on Apple's product launch cycles and a more stable operational model.

Foxconn noted that consumer smart products saw a slight year-on-year decline in December due to a high base effect from the previous month, driven by new product demand and holiday season preparations. The iPhone business, which is part of Foxconn's consumer smart products segment, also experienced a typical seasonal dip in December, which is considered a normal occurrence.

Comparing Q4 2024 performance with the previous quarter, Foxconn's business segments in consumer smart products, components and others, and computer terminals all showed growth, while cloud networking saw a decline. However, when compared to Q4 2023, all four major business segments, including cloud networking, experienced growth. The cloud networking segment, in particular, benefited from strong demand for AI servers, showing significant year-on-year growth.

Looking ahead to 2025, Foxconn expects its overall operations to enter the traditional seasonal slowdown in Q1. Despite the record-breaking performance in Q4 2024, the company anticipates that Q1 2025 will follow typical seasonal patterns, although it expects significant year-on-year growth compared to the same period in 2024.