Foxconn's Financial Performance in Q4 2024

Hon Hai Precision Industry Co., Ltd., known globally as Foxconn, announced on Friday a significant financial update for the fourth quarter of fiscal 2024. The company reported a net income of 46.3 billion New Taiwan dollars (approximately $1.4 billion), marking a 13% decrease from the previous year.

Revenue Growth and Earnings Per Share

Despite the decline in net income, Foxconn experienced a 17% year-over-year increase in revenue, reaching 2.1 trillion New Taiwan dollars for the quarter. However, earnings per share (EPS) saw a downturn, with a 13% decrease to 3.34 New Taiwan dollars compared to the same period in 2023.

Future Outlook: AI Server Business

Looking ahead, Foxconn is optimistic about its artificial intelligence (AI) server business, projecting a growth of over 100% in the first quarter of fiscal 2025 compared to the previous year. This anticipated growth highlights the company's commitment to innovation and its strategic focus on emerging technologies.