Global Market: Foxconn Q2 revenue jumps nearly 40% on AI demand, beats estimates

Foxconn reported Q2 revenue of T$2.513 trillion (about $78.71 billion), up nearly 40 percent year-on-year and above the consensus estimate of T$2.372 trillion, driven by strong growth in its AI server and cloud-networking division as well as iPhone assembly. June revenue alone jumped 52.1 percent to a record T$821.8 billion. The company guided for sequential and annual growth in Q3 on continued AI server rack demand, while flagging uncertainty from volatile global political and economic conditions.