Latest news with #Hon Hai
Yahoo
6 days ago
- Business
- Yahoo
Nvidia Partner Hon Hai's Profit Climbs After AI Spending Rises
(Bloomberg) -- Hon Hai Precision Industry Co. posted a better-than-projected 27% rise in quarterly earnings, reflecting how AI demand is helping the Taiwanese company weather a moribund global consumer electronics market. Hon Hai, which makes servers for Nvidia Corp., reported net income of NT$44.36 billion ($1.5 billion) for the June quarter, versus an average projection for NT$36.14 billion. The company, also known as Foxconn, previously reported a 16% sales increase for the period. The US-Canadian Road Safety Gap Is Getting Wider Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Hon Hai is navigating abrupt and unpredictable geopolitical shifts while it tries to diversify its manufacturing footprint. It cut its full-year revenue guidance in May, citing potential fallout from a US-China trade war. Donald Trump has declared plans for a 100% tariff on semiconductor imports, though he's promised to exempt companies that move production to the US. Hon Hai, which makes most of Apple Inc. iPhones, is already grappling with tepid consumer demand globally during an economic downturn. The Taiwanese company gets a significant chunk of revenue from the iPhone maker, though AI servers have fast become its main growth driver. It's indicated that while overall sales will still grow in 2025, it will be at a slower pace than previously expected. An appreciating Taiwan dollar is also weighing on its financials. Every NT$1 rise against the greenback on a yearly average will reduce Hon Hai's revenue by about 3%, its executives have estimated. --With assistance from Vlad Savov. Americans Are Getting Priced Out of Homeownership at Record Rates Dubai's Housing Boom Is Stoking Fears of Another Crash Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan The Electric Pickup Truck Boom Turned Into a Big Bust ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Nvidia Partner Hon Hai's Profit Climbs After AI Spending Rises
(Bloomberg) -- Hon Hai Precision Industry Co. posted a better-than-projected 27% rise in quarterly earnings, reflecting how AI demand is helping the Taiwanese company weather a moribund global consumer electronics market. Hon Hai, which makes servers for Nvidia Corp., reported net income of NT$44.36 billion ($1.5 billion) for the June quarter, versus an average projection for NT$36.14 billion. The company, also known as Foxconn, previously reported a 16% sales increase for the period. The US-Canadian Road Safety Gap Is Getting Wider Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Hon Hai is navigating abrupt and unpredictable geopolitical shifts while it tries to diversify its manufacturing footprint. It cut its full-year revenue guidance in May, citing potential fallout from a US-China trade war. Donald Trump has declared plans for a 100% tariff on semiconductor imports, though he's promised to exempt companies that move production to the US. Hon Hai, which makes most of Apple Inc. iPhones, is already grappling with tepid consumer demand globally during an economic downturn. The Taiwanese company gets a significant chunk of revenue from the iPhone maker, though AI servers have fast become its main growth driver. It's indicated that while overall sales will still grow in 2025, it will be at a slower pace than previously expected. An appreciating Taiwan dollar is also weighing on its financials. Every NT$1 rise against the greenback on a yearly average will reduce Hon Hai's revenue by about 3%, its executives have estimated. --With assistance from Vlad Savov. Americans Are Getting Priced Out of Homeownership at Record Rates Dubai's Housing Boom Is Stoking Fears of Another Crash Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan The Electric Pickup Truck Boom Turned Into a Big Bust ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Nvidia Partner Hon Hai's Profit Climbs After AI Spending Rises
Hon Hai Precision Industry Co. posted a better-than-projected 27% rise in quarterly earnings, reflecting how AI demand is helping the Taiwanese company weather a moribund global consumer electronics market. Hon Hai, which makes servers for Nvidia Corp., reported net income of NT$44.36 billion ($1.5 billion) for the June quarter, versus an average projection for NT$36.14 billion. The company, also known as Foxconn, previously reported a 16% sales increase for the period.
