Nvidia-Supplier Hon Hai’s Profit Misses as AI Doubts Persist
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Hon Hai Precision Industry Co. posted a surprise earnings fall after weak Chinese iPhone sales eroded margins, though the Nvidia Corp. supplier forecast a doubling in AI-related revenue this quarter.
The Taiwanese company’s net income plunged 13% to NT$46.3 billion ($1.4 billion), far short of analysts’ estimates for a 2.3% gain. Hon Hai, one of Nvidia’s most important server assemblers, expects revenue to rise in 2025, though it didn’t specify the extent of gains.