Nvidia supplier Foxconn third-quarter profit beats expectations, rising 17% on AI demand

Foxconn, the world's largest declaration electronics maker, reported Wednesday that its third-quarter nett jumped 17% from a twelvemonth earlier.

Here's however Foxconn did successful the September 4th compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are much consistently accurate:

• Revenue: $2.06 trillion New Taiwan dollars ($66.29 billion) vs. NT$2.06 trillion expected
• Net profit: NT$57.67 cardinal vs. NT$50.41 billion

Foxconn, formally known arsenic Hon Hai Precision Industry, is champion known arsenic the world's largest shaper of Apple's iPhones, but has been shifting into different concern avenues, including AI.

The steadfast manufactures server racks designed for AI workloads and has go a cardinal spouse to American AI spot darling Nvidia.