Hon Hai profits hit NT$49.92bn - Taipei Times

AI OPTIMISM:

Cloud and networking products, such as AI servers, were the largest contributors to Hon Hai’s profit in the first quarter, demonstrating strong AI demand

Staff writer, with agencies

Hon Hai Precision Industry Co (鴻海精密) yesterday reported a stronger-than-expected increase in quarterly profit, highlighting sustained spending on hardware essential for artificial intelligence (AI).Net profit for the first quarter of this year rose 19 percent year-on-year to NT$49.92 billion (US$1.58 billion), while analysts on average expected NT$48.4 billion. Operating profit was NT$75.6 billion, surging 63 percent from a year earlier, the company said.

The Foxconn logo is pictured at this year’s AutoTronics Taipei at the Taipei Nangang Exhibition Center on April 15.