Foxconn’s August revenue hits record high for the month as third-quarter outlook brightens

Foxconn said its third-quarter outlook has improved as demand for artificial intelligence continues to grow and information and communications technology products enter their seasonal peak in the second half of the year.

The Taiwanese electronics manufacturer reported August revenue of NT$921.8 billion. That represented a 2.61% decline from July but a 51.98% increase from the same month a year earlier, making it the highest August revenue in the company’s history and its second-highest monthly total overall.

Revenue for the first eight months reached NT$6.5111 trillion, up 39.73% year on year and also a record for the period. In U.S. dollar terms, August revenue fell about 2.7% month on month and rose about 39.4% year on year. Revenue for the first eight months increased about 38.4% in dollar terms.

AI remained Foxconn’s main growth engine in August. Its cloud and networking products benefited from strong demand for AI-related products, showing strong monthly and annual growth. Components and other products also grew significantly, supported by higher revenue from components tied to its main businesses and other income.

Consumer smart products declined slightly from July as key products entered a transition between old and new models. Computer terminal products also fell month on month because of shipment demand. Both categories nevertheless recorded strong or significant annual growth, helped by shipment demand and higher selling prices.