Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Foxconn Reports Record Q2 2024 Results
August 15, 2024 | FoxconnEstimated reading time: 1 minute
Hon Hai Technology Group (Foxconn) announced record-breaking financial results for the second quarter of 2024.
Revenue surged 19% year-over-year to NT$1.55 trillion, marking a new quarterly high. Operating profit and net profit also reached unprecedented levels for the second quarter. Earnings per share climbed to NT$2.53.
Looking ahead, the company anticipates significant growth in the third quarter due to the traditional peak season. For the full year, Foxconn maintains its forecast of substantial growth driven by robust demand for AI servers.
Second Quarter Financial Highlights
- Revenue: NT$1.55 trillion, up 19% year-over-year
- Gross profit: NT$99.5 billion, up 19% year-over-year
- Operating profit: NT$44.6 billion, up 44% year-over-year
- Net profit: NT$35 billion, up 6% year-over-year
- Earnings per share: NT$2.53
First Half Financial Highlights
- Revenue: NT$2.875 trillion, up 4% year-over-year
- Gross profit: NT$183.2 billion, up 7% year-over-year
- Operating profit: NT$81.4 billion, up 14% year-over-year
- Net profit: NT$57.1 billion, up 25% year-over-year
- Earnings per share: NT$4.12
Outlook and Business Updates
Foxconn expects strong sequential and year-over-year growth in the third quarter across all major product segments except computing products, which is facing a tough comparison to a strong prior-year period.
The company is experiencing robust demand for AI servers, with this segment contributing over 40% of total server revenue in the second quarter. Foxconn aims to make AI servers its next trillion-dollar revenue product.
The company is also advancing its smart manufacturing, smart city, and smart electric vehicle initiatives. In particular, Foxconn has delivered over 5,400 electric vehicles through July and is pursuing partnerships with multiple automotive customers.
The company is investing in semiconductor capabilities, including silicon carbide (SiC) supply chain and ADAS SoC chip development.
Hon Hai Tech Day 2024
Foxconn will host its annual technology conference, Hon Hai Tech Day 2024, on October 8-9. The event will feature keynote speakers and technology showcases.
Share on:
Suggested Items
Sypris Reports Fourth Quarter Results
03/27/2025 | BUSINESS WIREThe Company’s gross profit for the quarter increased 23.1% from the prior-year period, while gross margin expanded 350 basis points.
Eltek Reports Full Year and Q4 2024 Financial Results
03/13/2025 | EltekEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the full year and fourth quarter ended December 31, 2024.
Roadmapping Sustainability: Paving the way for Eco-friendly Electronics
03/10/2025 | iNEMIIn light of ongoing climate challenges, the electronics industry is poised for a transformative shift driven by heightened consumer and corporate awareness of sustainable practices and circularity. iNEMI (International Electronics Manufacturing Initiative) enlisted the help of the electronics industry to roadmap that transformation in electronics manufacturing. This article provides an overview of the resulting sustainable electronics roadmap and how to get involved.
LITEON Technology Reports 2024 EPS of NT$5.21 Q4 Sales Reached NT$38.3 Billion
02/27/2025 | LITEON TechnologyLITEON Technology reported the fourth quarter consolidated sales of NT$38.3 billion, up 4% Y-o-Y. Cloud & AIoT achieved an annual growth of over 20%, driving overall revenue back to a positive growth trajectory.
Electronics Industry Demand Rises in February
02/21/2025 | IPCOrders, capacity utilization, and backlogs all increased in the past month, pushing electronics industry demand higher according to IPC’s February Sentiment of the Global Electronics Manufacturing Supply Chain Report.