IPhone Maker Hon Hai Sustains Revenue Rebound With Help From AI
- Hon Hai says third-quarter sales is a record for the period
- Company’s shares have increased more than 85% this year
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Hon Hai Precision Industry Co.’s revenue growth accelerated last quarter, sustaining a bounce-back as demand for the servers that drive AI development offset weak smartphone sales.
Apple Inc.’s main manufacturing partner, also known as Foxconn, reported sales rose 20.2% to NT$1.85 trillion ($57.9 billion) for the three months ended September from a year earlier. That compares with the average analyst projection of NT$1.78 trillion compiled by Bloomberg.