TLDR

  • Foxconn’s fourth-quarter 2024 revenue reached T$2.6028 trillion ($82.73 billion), a 22.07% year-over-year increase and a record high for the quarter.
  • The results topped analyst estimates of T$2.418 trillion and exceeded the company’s own expectations.
  • Growth was driven by the cloud and networking products division, powered by booming AI server demand from clients like Nvidia.
  • Revenue from smart consumer electronics (including iPhones) saw a slight drop due to unfavorable exchange rates.
  • December 2024 revenue alone hit T$862.86 billion, a 31.77% annual rise and a record for that month.

Foxconn announced record-breaking fourth-quarter 2024 revenue on Monday. The world’s largest contract electronics maker reported T$2.6028 trillion ($82.73 billion) in quarterly revenue.

This is a 22.07% increase from the same period in 2023. The figure beat the LSEG SmartEstimate of T$2.418 trillion, which weights forecasts from historically accurate analysts more heavily.

The company said revenue grew strongly both quarter-over-quarter and year-over-year, adding that the results exceeded its internal expectations.

In U.S. dollar terms, fourth-quarter revenue surged 26.4%. The stronger dollar performance reflects favorable currency movements during the period.

AI Demand Fuels Growth

Foxconn’s revenue surge was led by its cloud and networking products division, which benefited from intense demand for AI servers.

Foxconn is the biggest server maker. The AI chip giant’s products require specialized server infrastructure that Foxconn manufactures at scale.

The company’s smart consumer electronics segment told a different story. This division includes iPhone assembly for Apple, Foxconn’s largest client.

Revenue in this segment posted a slight decline, which Foxconn attributed to unfavorable exchange rates rather than volume changes.

December 2024 alone saw revenue of T$862.86 billion, a 31.77% increase from December 2023.

The December figure set a record for that month. The strong finish capped off a quarter that beat both internal and external expectations.

Stock Performance and Outlook

Foxconn shares gained 25.3% throughout 2024, matching the broader Taiwan market’s gains for the year.

On Monday, before the revenue announcement, the stock closed up 1.08%. The benchmark Taiwan index rose 2.57% the same day.

The company said the strong Q4 results create a high comparison base for Q1 2026, suggesting it expects some moderation in growth rates moving forward.

Foxconn doesn’t provide numerical revenue or earnings forecasts. It will report detailed fourth-quarter earnings in March 2026.

December’s T$862.86 billion in revenue represented 31.77% annual growth, marking the strongest monthly performance of the quarter.