Taiwan’s Wistron Corp. posted record operating profit in the third quarter as artificial intelligence server demand surged, while foreign exchange losses tempered bottom-line growth.
Operating profit jumped 31.9% from the previous quarter to NT$11.4 billion ($356 million), the company reported Monday. However, net income dropped 4.8% quarter-on-quarter to NT$4.2 billion due to forex losses of NT$626 million.
The electronics manufacturer saw AI server shipments climb by double digits sequentially, pushing quarterly revenue to NT$272.9 billion. Server business now accounts for nearly half of total sales, up from 44% in the second quarter.
As a key supplier of GPU substrates to Nvidia and AMD, Wistron is ramping up production capacity to meet sustained demand. Management expects supply constraints to persist through 2024, citing strong orders from both cloud providers and enterprise clients.
The company began mass production of Nvidia’s GB200 computing boards in the fourth quarter, with volumes set to increase in early 2024. Traditional PC segment shipments remained flat.
For the first nine months, net income surged 49.2% year-on-year to NT$12.1 billion. Wistron shares closed at NT$122, down NT$1.5.
