Apple Inc.’s main manufacturing partner Hon Hai Precision Industry Co. said it expects revenue to grow in the current quarter and for the rest of year, after reporting a profit rise boosted by demand for servers powering AI applications.
The iPhone producer, also known as Foxconn, said on Wednesday that net income in the June quarter was NT$35 billion ($1.1 billion), largely in line with analyst expectations. Hon Hai’s revenue for the period, released earlier, surpassed estimates and came in at NT$1.55 trillion, up 19%. This was helped in large part by its growing business of supplying data center operators with servers containing Nvidia Corp.’s AI accelerators.
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