Taiwan's Foxconn reports 35% rise in Q2 profit, beats forecasts

Business Recorder reported that Taiwan's Foxconn, the globe's biggest contract maker of electronics, posted a 35 per cent jump in second-quarter profit on Wednesday, surpassing analyst projections. Demand for artificial intelligence hardware stayed firm over the period, which the report links to the stronger outcome. The group is a key server supplier to Nvidia and the top iPhone assembler for Apple.

Net profit for the three months from April to June came to T$59.97 billion, up from T$44.4 billion in the same period last year. Analysts had collectively projected T$58.8 billion, according to LSEG, so the outcome landed above that mark. The margin over that projection was narrow, though the figure still came in clearly higher.