Taipei, 2025 – Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, reported a 17% rise in third-quarter profit, beating market expectations, driven by sustained demand for artificial intelligence (AI) servers.

The company, formally known as Hon Hai Precision Industry, posted a net profit of T$57.67 billion ($1.89 billion) for July–September, surpassing the consensus estimate of T$50.4 billion compiled by LSEG. This follows last month’s forecast-beating revenue results, reflecting robust sales of AI-related products.

Foxconn expects significant year-on-year revenue growth in Q4, with AI server demand continuing to rise. While the company does not provide specific numerical guidance, it remains confident of maintaining strong growth for the full year.

Most iPhones assembled for Apple are produced in China, though the bulk of units sold in the U.S. are now made in India. Foxconn is also expanding its AI server manufacturing footprint with factories in Mexico and Texas.

The company is exploring electric vehicle (EV) production as a future growth area but recently sold its former EV plant in Lordstown, Ohio, for $375 million, including machinery purchased in 2022.

Foxconn’s shares have surged 36% this year, outpacing the 21% gain in the broader Taiwan index (TWSE:TAIEX), closing up 1.8% on Wednesday ahead of the earnings release.