Foxconn, an assembler of Apple and Nvidia products formally known as Hon Hai Precision Industry, said Sunday that quarterly revenue rose 15% on the year to 2.132 trillion New Taiwan dollars, equivalent to $64.75 billion. That marked its highest-ever fourth-quarter revenue and beat a FactSet-compiled estimate of NT$2.07 trillion.The company also forecast "significant growth" in first-quarter sales.Foxconn's December sales rose 42% to NT$654.83 billion, also beating FactSet-compiled estimates, while full-year sales rose 11% to a record NT$6.860 trillion.The Taiwan-listed company said it recorded annual sales growth in almost all of its major segments, driven by demand for AI servers. The expansion of its auto-related business, and strong demand for new computing products, also boosted sales.Annual and quarterly sales at Foxconn's smart-consumer-electronics segment, which includes smartphones, TVs, game consoles and others, slipped slightly, which it attributed to a high base effect a year earlier caused by delayed orders in 2022.The company is expected to post full fourth-quarter earnings results in mid-March.Foxconn's shares climbed 2.6% in Monday's trading.

Foxconn Posts Record Revenue For Fourth Quarter on AI Demand

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