Global electronics maker Hon Hai Technology Group (Foxconn) has reported record fourth quarter (Q4) and annual revenue for 2024 and flagged strong growth in the first quarter of 2025.
The Taiwanese company said revenue in the three months ended 31 December was NT$2.13 trillion (US$63.9 billion), its highest Q4 revenue and about 15% more than the same period in 2023.
Revenue for the 2024 calendar year rose 11.4% to $6.86 trillion, also an annual record.
Foxconn (TWSE: 2317), the brand name Hon Hai uses in its operations, said cloud and networking products, computing products and components and other products showed strong growth while smart consumer electronics remained “flattish”.
“In the first quarter of 2025, overall operations have gradually entered the traditional offseason,” Foxconn said in a statement.
“Even with record high revenue in the fourth quarter of 2024, the sequential performance of the first quarter will reach roughly similar levels that are average to the past five years.
“Compared with a year ago it should show significant growth.”
At 8.50 am AEDT (9.50 pm GMT) Foxconn (TWSE: 2317) shares were trading at $181.00, down $1.50 or 0.82%, capitalising the company at $2.51 trillion.
Foxconn’s customers include some of the world’s largest companies such as Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAP), Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN).