Taiwan’s Foxconn reported record May revenue of NT$615.75 billion ($20.5 billion), climbing 11.92% from the same period last year despite a 3.99% monthly decline. The world’s largest contract manufacturer attributed the gains to robust demand for consumer smart products, particularly iPhone assembly ahead of China’s June 18 online shopping festival.
The electronics giant expects second-quarter operations to show significant growth both sequentially and year-over-year, though currency fluctuations continue weighing on Taiwan dollar-denominated results. When measured in US dollars, May performance actually exceeded April levels, according to the company.
Cloud and networking products drove year-over-year gains, benefiting from AI server demand that has become a cornerstone of Foxconn’s growth strategy. The manufacturer has been riding strong AI server demand, with revenue expected to nearly double in the second quarter.
Five-month consolidated revenue reached NT$2.90 trillion ($96.6 billion), up 21.65% annually. Foxconn maintains its target of exceeding NT$7 trillion ($233.3 billion) in full-year revenue, compared with NT$6.8 trillion in 2024.
However, the company has grown more cautious about currency impacts, recently downgrading its outlook due to Taiwan dollar appreciation. Management continues monitoring global political and economic conditions that could affect operations across its manufacturing footprint in China and other markets.
