Foxconn now makes more money from AI servers than from everything else combined
Foxconn crossed a line this quarter that it will not cross back. Its cloud and networking division, the one that builds AI servers, made up 51% of revenue in the three months to June.
That is the first time the segment has passed half. Smart consumer electronics, the division that contains the iPhone, came to 29%.
The profits followed. Net profit reached NT$59.97bn, about $1.86bn, up 35% on a year earlier and the company’s highest ever for a second quarter.
The quarter in numbers
Consolidated sales hit NT$2.53 trillion, up 41% year on year and 19% on the previous quarter. Analyst forecasts were beaten on both profit and revenue.
The cloud and networking share climbed fast. It was 48% in the first quarter, with computing at 15% and electronic components at 5%, per Taiwan’s Central News Agency.
Earnings per share came in at NT$4.27, against NT$3.19 a year earlier....
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