Foxconn Reports 34% Rise in Quarterly Profit to T$77.5 Billion, Expects Continued AI Demand Fiona Craig Thu, November 12, 2026 at 6:10 AM EST 2 min read 2317.TW -0.83% NVDA -7.47% AAPL +0.52% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Foxconn (USOTC:FXCOF), the Taiwanese electronics manufacturer and major supplier to Nvidia and Apple, reported a 34% increase in third-quarter net profit on Thursday, exceeding market expectations, while forecasting continued growth in artificial intelligence-related demand despite supply chain constraints.
Net profit for the July-to-September period reached T$77.5 billion ($2.35 billion), compared with an LSEG analyst consensus estimate of T$69.6 billion. The company previously reported a 47% year-on-year increase in quarterly revenue.
Foxconn, formally known as Hon Hai Precision Industry, maintained its forecast for "strong" revenue growth in 2026 and expects demand for AI infrastructure to continue into 2027.
The company anticipates "high double-digit growth" in AI server rack shipments next year, although it did not provide specific numerical revenue guidance.
Chairman Young Liu said Foxconn remained confident about its business prospects but acknowledged ongoing uncertainty affecting the electronics industry.
"We remain very confident about our operations next year and expect continued growth," Liu said, while identifying "several external variables worth continued attention".
He noted that supplies of semiconductors, memory and other components remained constrained across the AI and consumer electronics sectors.
"Although supply bottlenecks should gradually ease as new capacity comes online, overall demand is expected to still exceed supply next year, and the tight supply-demand situation may persist for some time," Liu said.
Foxconn continues to expand its manufacturing operations outside China. While much of its iPhone production remains in China, India now accounts for the majority of iPhones it assembles for the US market.
The company is also developing facilities in Mexico and Texas to manufacture AI servers for Nvidia, alongside efforts to expand its electric vehicle operations.
Foxconn shares have gained approximately 4% since the beginning of 2026, compared with a 49% increase in Taiwan's benchmark stock index.
The company's shares closed 0.8% lower on Thursday ahead of its earnings announcement, while the broader Taiwanese market declined 2.6%.
