Foxconn says May revenue climbs 22% y/y, raises outlook

By Thomson Reuters Jun 5, 2024 | 2:50 AM

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, reported on Wednesday revenue for May rose 22.1% year-on-year, a record high for the month.

It said in a statement that its original outlook for the second quarter was for both quarter-on-quarter and year-on-year growth

“Due to higher-than-expected demand from AI servers, current visibility for the second quarter is expected to beat expectations,” it added in a statement, without elaborating.

The company does not provide numerical guidance.

(Reporting by Ben Blanchard; Editing by Muralikumar Anantharaman)