Foxconn second quarter revenue rises 15.82% on year
Foxconn
, the world's largest contract electronics maker, reported record second-quarter revenue on strong demand for artificial intelligence products but cautioned about geopolitical and exchange rate headwinds.
Revenue for
Apple
's biggest
iPhone
assembler jumped 15.82% year-on-year to T$1.797 trillion, Foxconn said in a statement on Saturday, beating the T$1.7896 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate.
Robust AI demand led to strong revenue growth for its cloud and networking products division, said Foxconn, whose customers include AI chip firm Nvidia.
Smart consumer electronics, which includes iPhones, posted 'flattish' year-on-year revenue growth affected by exchange rates, it said.
June revenue roses 10.09% on year to T$540.237 billion, a record high for that month.
Foxconn said it anticipates growth in this quarter from the previous three months and from the same period last year but cautioned about potential risks to growth.
"The impact of evolving global political and economic conditions and exchange rate changes will need continued close monitoring," it said without elaborating.
U.S. President Donald Trump said he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the "take it or leave it" offers to be sent out on Monday.
The Chinese city of Zhengzhou is home to the world's largest iPhone manufacturing facility, operated by Foxconn.
The company, formally called Hon Hai Precision Industry, does not provide numerical forecasts. It will report full second quarter earnings on August 14.
Foxconn's shares jumped 76% last year, far outperforming the 28.5% rise for the Taiwan market, but are down 12.5% so far this year, reflecting broader pressure on tech stocks rattled by Trump's tumultuous trade policy.
The stock closed down 1.83% on Friday ahead of the revenue data release, compared with a 0.73% drop for the benchmark index.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
19 minutes ago
- India Today
EY CTO calls workforce-wide AI training silly as Microsoft weighs AI in reviews and Google pushes AI playbook
Not everyone is convinced that every employee needs to be trained in AI. While companies like Microsoft are reportedly planning to include AI usage in performance reviews and Google is rolling out an internal AI playbook to guide adoption, EY's Chief Technology Officer for the Americas Consulting division has a very different take. In an interview with Business Insider, the executive said it's 'silly' to expect the entire workforce to upskill in CTO, whose job is to help large organisations integrate AI more meaningfully, believes the real focus should be on designing smarter, easier-to-use systems, not expecting every employee to become an AI expert. 'They just know that they have a screen and an application, they don't need to know how the technology works,' he approach flips the current narrative. Instead of asking workers to change how they function, EY is helping companies build AI tools that work in the background, tools that adjust to existing workflows and roles. One example the CTO shared involved cruise ship staff using AI to predict guest behaviour. Based on weather, guest profiles, and historical data, the AI can forecast movement, product demand, and even suggest shifting staff between venues to manage crowds or increase sales. 'The AI will turn around and list out and build out that process automatically,' he explained. The human in charge then simply approves the plan or makes tweaks using a visual interface. This kind of AI-human collaboration could make AI feel less intimidating and more like an assistant than a is different from what's happening elsewhere. Microsoft is said to be looking at ways to evaluate how well employees are using AI tools as part of their performance metrics, according to internal reports. That naturally puts pressure on employees to pick up AI skills quickly. At the same time, Google has created an internal AI playbook aimed at speeding up AI adoption across teams, though the responsibility still falls on workers to approach shifts that responsibility more onto the technology itself. 'You're not only just giving them technology that's AI-enabled, you're allowing them to start to rethink how they do their job,' the CTO a time when businesses are struggling to balance hype and practical use, this feels like a more grounded strategy. Not everyone needs to know the nuts and bolts of AI — sometimes the best tech just works quietly in the background, helping people do what they already do, only better.- Ends
Time of India
20 minutes ago
- Time of India
China retaliates against EU ban with import restrictions on medical devices
Hong Kong: China's finance ministry said on Sunday it was restricting government purchases of medical devices from the European Union that exceed 45 million yuan ($6.3 million) in value, in retaliation to Brussels' own curbs last month. Tensions between Beijing and Brussels have been rising, with the European Union imposing tariffs on China-built electric vehicles and Beijing slapping duties on imported brandy from the bloc. The European Union said last month it was barring Chinese companies from participating in EU public tenders for medical devices worth 60 billion euros ($70 billion) or more per year after concluding that EU firms were not given fair access in China. The measure announced by the European Commission was the first under the EU's International Procurement Instrument, which entered into force in 2022 and is designed to ensure reciprocal market access. China's countermeasures were expected after its commerce ministry flagged "necessary steps" against the EU move late last month. "Regrettably, despite China's goodwill and sincerity, the EU has insisted on going its own way, taking restrictive measures and building new protectionist barriers," the commerce ministry said in a separate statement on Sunday. "Therefore, China has no choice but to adopt reciprocal restrictive measures." The EU delegation office in Beijing did not immediately respond to a request for comment. China will also restrict imports of medical devices from other countries that contain EU-made components worth more than 50% of the contract value, the finance ministry said. The measures come into force on Sunday. The commerce ministry said products from European companies made in China were not affected. The world's second- and third-largest economies are due to hold a leaders' summit in China later in July. On Friday, China also announced duties of up to 34.9% for five years on brandy originating in the European Union, most of it cognac from France, after concluding an investigation largely believed to be a response to Europe's EV tariffs. Major cognac producers Pernod Ricard, LVMH and Remy Cointreau were spared from the levies, however, provided they sell at a minimum price, which China has not disclosed.
NDTV
25 minutes ago
- NDTV
Google Ready To Start Human Trials Of Its AI-Designed Drugs
Google DeepMind's drug discovery company, Isomorphic Labs, is set to launch human trials of its AI-designed drugs. The company is aiming to use cutting-edge AI to design medicines faster, cheaper and more accurately. Colin Murdoch, Isomorphic Labs president and Google DeepMind's chief business officer, confirmed to Fortune that the human trials were set to get underway. "There are people sitting in our office in King's Cross, London, working, and collaborating with AI to design drugs for cancer. That's happening right now," said Mr Murdoch. "The next big milestone is actually going out to clinical trials, starting to put these things into human beings. We're staffing up now. We're getting very close." Isomorphic Labs was born in the wake of DeepMind's revolutionary AlphaFold AI system that predicts protein structures with high level of accuracy. AlphaFold's creators, Demis Hassabis and John Jumper, both from DeepMind, shared the 2024 Nobel Prize in Chemistry with David Baker from the University of Washington. "This was the inspiration for Isomorphic Lab. It really demonstrates that we could do something very foundational in AI that could help unlock drug discovery," said Mr Murdoch. Isomorphic Labs Since the beginning of Isomorphic Labs in 2021, it has partnered with major pharmaceutical companies like Novartis and Eli Lilly. The company secured $600 million in funding in April 2025 to accelerate the mission. Alongside supporting existing drug programmes, the company is researching and developing new drugs in fields like oncology and immunology. Currently, pharma companies spend millions and years on a single drug development. With only a 10 per cent success rate in trials, Isomorphic Labs is aiming to use AI to boost the odds and reduce the resources required for the entire process. "We identify an unmet need, and we start our own drug design programs. We develop those, put them into human clinical haven't got that yet, but we're making good progress," said Mr Murdoch. "We're trying to do all these things: speed them up, reduce the cost, but also really improve the chance that we can be successful. One day we hope to be able to say, well, here's a disease, and then click a button and out pops the design for a drug to address that disease. All powered by these amazing AI tools," he added.
