Foxconn third-quarter revenue hits record, misses market forecast

Taiwan’s Foxconn, the world’s largest contract electronics maker, reported record third-quarter revenue on strong demand for artificial intelligence products, though it missed the market forecast and offered caution about exchange rates.

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Revenue for Nvidia’s biggest server maker and Apple’s top iPhone assembler jumped 11 per cent from the same quarter last year to T$2.057 trillion ($67.71 billion), Foxconn said in a statement on Sunday.

While that was below the T$2.134 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate, Foxconn said the result was better than expected.