“The visibility for this year has improved compared to in March, mainly thanks to strong AI server demand,” company spokesman James Wu told a post-earnings conference call, pointing to a better business outlook but without providing detailed numbers.
Foxconn said it expects revenue for the second quarter to grow significantly from a year earlier, broadly in line with previous guidance, with revenue for smart computer electronics likely to be flattish.
It also forecast demand for consumer electronics to be flat this year. It does not provide numerical guidance.
For the first three months of 2024, Foxconn reported a 72% rise in profit coming off a low base from the same period a year earlier, but the growth was lower than expected.
Apple’s quarterly results and forecast beat modest expectations this month, and CEO Tim Cook said revenue growth would return to the current quarter.00:14Apple set to launch VR headset outside US: report
In a separate statement, Foxconn, whose earnings took a hit last year from a T$17.3 billion ($533.9 million) writedown related to its 34% stake in Sharp Corp (6753.T), said it was committed to the Japanese electronics maker, describing it as an “important asset”.
“The worst is behind Sharp. Its future only gets better from here,” Foxconn Chairman Young Liu said, adding that the Japanese company’s Sakai factory would be transformed into an AI data centre.
