Foxconn Stock: AI Boom Delivers Record-Breaking Quarter

TLDR

• Foxconn posted Q4 2024 revenue of T$2.6028 trillion ($82.73 billion), jumping 22.07% from the prior year and setting a quarterly record.
• Results exceeded the T$2.418 trillion analyst consensus, beating Foxconn’s own internal projections.
• The cloud and networking division powered growth through surging AI server orders from clients like Nvidia.
• iPhone assembly revenue dipped slightly as unfavorable currency exchange rates offset volume gains.
• December 2024 alone brought in T$862.86 billion, climbing 31.77% year-over-year to set a monthly record.

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Foxconn delivered record quarterly revenue on Monday, capping off 2024 with its strongest performance yet. The Taiwan-based contract manufacturer reported T$2.6028 trillion ($82.73 billion) for the fourth quarter.

That figure represents a 22.07% jump from Q4 2023. Revenue came in well above the T$2.418 trillion LSEG SmartEstimate, which prioritizes forecasts from analysts with proven track records.

The company acknowledged the results surpassed its own expectations. Both quarter-over-quarter and year-over-year comparisons showed strong growth.

In U.S. dollar terms, revenue increased 26.4% for the quarter. The larger dollar-based gain reflects beneficial exchange rate movements during the period.

Foxconn’s cloud and networking products division carried most of the weight. This business unit manufactures servers for AI workloads at massive scale.

As Nvidia’s primary server partner, Foxconn builds the infrastructure needed to run AI chips. Demand for these specialized servers has exploded as companies race to deploy AI capabilities.

The smart consumer electronics division painted a different picture. This segment handles iPhone production for Apple, among other products.

Revenue here slipped slightly during the quarter. Foxconn pinned the decline entirely on exchange rate headwinds rather than weaker demand.

Monthly Performance Caps Strong Quarter

December 2024 revenue hit T$862.86 billion on its own. The monthly figure rose 31.77% compared to December 2023.

This set a record for December revenue in company history. The strong month-end performance helped push the full quarter past analyst expectations.

The company noted that Q4’s strength creates a tough comparison for the first quarter of 2026. This suggests management expects some cooling in growth rates ahead.

Foxconn doesn’t share numerical guidance for future quarters. Detailed earnings results will arrive in March 2026 when the company reports full financial statements.

Market Response and 2024 Performance

Foxconn shares gained 25.3% during 2024. The stock’s performance tracked closely with Taiwan’s broader market for the year.

Foxconn Technology Co., Ltd. (2354.TW)

Shares closed up 1.08% on Monday before the revenue announcement. Taiwan’s benchmark index climbed 2.57% the same day.

The 31.77% December revenue growth marked the fastest monthly expansion of the quarter. Strong AI server orders maintained momentum through year-end.

Revenue in U.S. dollar terms grew faster than the New Taiwan dollar figure. This 26.4% increase benefited from the dollar’s strength against Asian currencies during Q4.

The cloud and networking segment now represents Foxconn’s fastest-growing business line. AI infrastructure demand shows no signs of slowing as hyperscalers expand data center capacity.

iPhone assembly revenue faced pressure from currency movements. Apple remains Foxconn’s largest customer despite the slight quarterly decline in that segment.

The T$2.6028 trillion quarterly total exceeded analyst estimates by roughly 7.6%. December’s record monthly revenue of T$862.86 billion helped push the quarter over the top.

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