Foxconn reiterates Q2 revenue to grow, posts record April sales
Business
Foxconn reiterates Q2 revenue to grow, posts record April sales
TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and the biggest assembler of Apple's iPhone, reiterated on Sunday it expected a rise in second-quarter revenue, and reported record sales for the month of April. Foxconn (2317.TW), opens new tab said in a statement that this year's second quarter "remains a traditional off-peak season, and major products are entering a period of transition between old and new products".
But it added: "The operations outlook for the second quarter is expected to show both quarter-on-quarter and year-on-year growth".
The statement did not elaborate, and the company does not give numerical guidance.
The company, formally called Hon Hai Precision Industry Co Ltd, said April revenue reached T$510.9 billion ($15.83 billion), which it said was the highest figure on record for the same period and represented an on-year rise of 19%.
Revenue in its smart consumer electronics products, including smartphones, in April showed "significant growth" year-on-year, it said.
Strong artificial intelligence (AI) server demand also delivered "strong growth" in April on-year for its cloud and networking products segment, the company added.
The monthly sales data comes ahead of Foxconn's first-quarter earnings call on May 14.
The first quarter is traditionally quieter than the previous one, the season when Taiwan's tech companies race to supply smartphones, tablets and other electronics to major vendors such as Apple for Western markets' year-end holiday period.
