Foxconn (2317.TW) profit rises 19% as AI server demand beats estimates

Foxconn reported a 19% year-over-year increase in first-quarter profit on May 14, 2026, beating analyst expectations as demand for AI servers strengthened. Net profit for January-March rose to T$49.92 billion ($1.58 billion), above the LSEG consensus estimate of T$48.88 billion. The company, formally Hon Hai Precision Industry, maintained its forecast for strong full-year revenue growth but did not provide numerical guidance. Foxconn reported in April that first-quarter revenue rose 30% from a year earlier. Foxconn is Nvidia’s largest server maker and Apple’s top iPhone assembler. It is expanding AI server production in Mexico and Texas and now makes most U.S.-bound iPhones in India. Shares have gained 6% in 2026, trailing the Taiwan benchmark’s 44% rise, and closed 2.6% lower on May 14 ahead of the earnings release.