Taiwan-based contract electronics manufacturer Foxconn reported a stronger-than-expected 39.8% year-on-year increase in second-quarter revenue, driven by robust demand for artificial intelligence (AI) products, according to a company statement cited by Reuters.
Revenue for the April-June quarter rose to T$2.513 trillion (about $78.71 billion), exceeding the T$2.372 trillion consensus estimate compiled by LSEG SmartEstimate, which assigns greater weight to analysts with stronger forecasting records, Reuters reported.
