6.8 trillion! FOXCONN full-year revenue hit a new high in 2024

Foxconn reported revenue of 654.8 billion yuan (NT $) in December 2024, down 2.64% month on month and up 42.31% year on year, the second-highest in the same period of the calendar year. Revenue in the fourth quarter of 2024 was 2.13 trillion yuan, an increase of 15.03% quarter-on-quarter and 15.17% year-over-year, which was the highest in the same period in the calendar year. The annual revenue in 2024 was 6.8 trillion yuan, an annual increase of 11.37%, the highest in the same period in the calendar year. Looking ahead to the first quarter of 2025, Hon Hai said that although the overall operation is gradually entering the traditional off-season, even in the fourth quarter of 2024, even on the basis of the record single-quarter revenue, it is expected that the seasonal performance of this quarter will still be about the same as the average level of the past five years; Compared to the same period last year, it will be a significant increase. Hon Hai's revenue in December 2024 increased by 42.3% year-on-year, representing the coming trend of AI servers. As for revenue in the fourth quarter of 2024, it hit a record single-quarter high, with both quarterly and year-over-year growth in the range of strong growth, better than the outlook in November last year. At the same time, Nvidia GB200 AI servers have been shipped in a small amount in December 2024 and recognized revenue, and the mass production time is expected to start in late January 2025. In addition, the full-year 2024 revenue performance was better than the company and the market expectations. Hon Hai said its full-year revenue in 2024 increased 11.37% year-on-year, among which the Cloud networking product category, component and other product category and computer terminal product category grew strongly over the same period last year, mainly benefiting from strong demand for AI servers and higher demand for new products. The consumer intelligence category declined slightly from year to year.