TapTechNews June 5th news, Hon Hai Precision Industry (Foxconn) announced its latest results today: Benefiting from artificial intelligence promotion, the sales in May reached NT$550.16 billion (TapTechNews note: Currently about CNY 123.214 billion), exceeding expectations and increasing by 22.1% year-on-year.
Hon Hai Group said that in the second quarter, the main products entered a period of new and old alternation. Originally, the operational outlook was for sequential and year-on-year growth. Due to the higher-than-expected demand for AI servers, it is currently expected that the visibility in the second quarter will exceed the previous expectations.
For reference, Hon Hai's revenue in April was NT$510.9 billion (currently about CNY 114.422 billion), increasing by 19.03% year-on-year, setting a new high for the same period in previous years. Based on this calculation, Hon Hai's revenue in May increased by 7.68% sequentially.
Hon Hai said that the second quarter is still a traditional off-season, the main products enter a period of new and old product transition, and the visibility is roughly the same as the current market expectations. It is estimated that the operational outlook for the second quarter of 2024 will show sequential and year-on-year growth performance.
In March 14th this year, Hon Hai released its 2023 annual report. Last year, it achieved revenue of NT$6.16 trillion (about CNY 1.41 trillion), exceeding market expectations, but the revenue decreased by 7% year-on-year. The annual net profit was NT$142.1 billion (about CNY 32.541 billion),超出 expectations and basically unchanged year-on-year.