00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Foxconn said it expects strong revenue growth in the first quarter and full year,
00:07even as quarterly profit fell 2% and missed estimates, according to Reuters.
00:12The electronics maker said a higher tax rate caused the profit decline,
00:15even as fourth quarter revenue rose 22% on strong global demand for AI products.
00:21Foxconn said it expects strong growth in revenue for the first quarter and full year,
00:26the highest outlook it provides.
00:28Chairman Young-Loo said AI growth will continue for two to three years
00:32and customers expect the AI industry to reach $1 trillion during that period.
00:37Loo said global political and economic conditions, especially the war in the Middle East,
00:43remain Foxconn's biggest external challenge and have raised concerns about supply chain risks.
00:48Foxconn has benefited from a data center boom as major cloud companies spend billions
00:52to expand artificial intelligence infrastructure and research capacity.
00:56For all things money, visit Benzinga.com.
Comments