Foxconn first-quarter revenue jumps

TAIPEI, April 5 (Reuters): Taiwan's Foxconn, the world's largest contract electronics maker, reported a 29.7 per cent on-year rise in first-quarter revenue on strong demand for artificial intelligence products, though it cautioned about "volatile" global politics.

Revenue for Nvidia's biggest server maker and Apple's top iPhone assembler jumped to T$2.13 trillion ($66.60 billion), Foxconn said in a statement on Sunday.

That was slightly below the T$2.148 trillion LSEG SmartEstimate, which gives greater weight to forecasts from analysts who are more consistently accurate.

Strong AI demand led to robust revenue growth for its cloud and networking products division. Smart consumer electronics, which includes iPhones, posted "significant" growth thanks to new product launches, the company said.

March revenue alone rose 45.6 per cent on-year to T$803.7 billion, a record for that month.

Operations are expected to grow both quarter-on-quarter and year-on-year in the second quarter, with AI racks maintaining a continued growth trend, ?the company said.