Foxconn maintains sales growth in second quarter, records record April sales By Reuters

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest electronics maker and the largest assembler of Apple’s (NASDAQ:) iPhones, reiterated on Sunday that it expects second-quarter sales to rise and will post record sales for the month of April. revealed. .Foxconn said in a statement that the second quarter of this year “remains a traditional slow season, with key products entering a transition period between existing and new products.”

However, he added, “The sales outlook for the second quarter is expected to grow both compared to the previous quarter and compared to the same period last year.”

The statement was not detailed and the company did not provide numerical guidance.

The company, officially called Hon Hai Precision Industry Co Ltd, said sales reached T$510.9 billion ($15.83 billion) in April, the highest figure on record for the same period and a 19% increase year-on-year.

It said April sales of smart home appliances, including smartphones, showed “significant growth” compared to the same period last year.

Demand for powerful artificial intelligence (AI) servers also recorded “strong growth” year-on-year in its cloud and networking products, the company added.

The monthly sales data comes ahead of Foxconn’s first-quarter earnings release on May 14.

Foxconn previously reported first-quarter revenue of T$1.322 trillion, down 9.6% year-on-year, underperforming the LSEG SmartEstimate, which gives greater weight to more consistently accurate analyst forecasts. reported to have been recorded.

The first quarter is traditionally quieter than previous quarters, a season when Taiwan’s technology companies compete to supply smartphones, tablets and other electronics to major suppliers such as Apple in time for the holiday season in Western markets.

Apple’s quarterly results and outlook were slightly better than expected Thursday, and CEO Tim Cook said sales growth would return this quarter.

Last March, Foxconn adopted a much more optimistic outlook for this year in its fourth-quarter earnings call, predicting a significant increase in revenue due to surging demand for AI servers.

Foxconn’s stock has surged nearly 50% so far this year, compared with a 13% rise for the broader market.

It closed up 1.3% on Friday.

($1 = 32.2800 Taiwan Dollars)