Fourth Quarter Financial Overview

Hon Hai Precision Industry Co., Ltd., widely recognized as Foxconn, disclosed its financial results for the fourth quarter of fiscal 2024. The company experienced a 13% annual decline in net income, amounting to 46.3 billion New Taiwan dollars (approximately $1.4 billion).

Revenue and Earnings Per Share

Despite the downturn in net income, Foxconn's revenue saw a significant uplift, reaching 2.1 trillion New Taiwan dollars, marking a 17% increase from the previous year. However, earnings per share dropped by 13% to 3.34 New Taiwan dollars compared to the same period in 2023.

Future Outlook: AI Server Business

Looking ahead, Foxconn anticipates a substantial growth in its artificial intelligence (AI) server business, projecting an increase of over 100% in the first quarter of fiscal 2025 compared to the previous year.