Major Apple supplier Foxconn’s Q3 profit up 14% on AI boom By Reuters

TAIPEI (Reuters) – Apple (NASDAQ:) supplier Foxconn (SS:) reported on Thursday a 14% rise in third-quarter net profit, driven by strong AI server demand.

The Taiwanese company, the world’s largest contract electronics maker, reported net profit for the July-September quarter rose to T$49.3 billion ($1.5 billion) from T$43.1 billion in the same period the previous year, according to Reuters calculations.

The profit beat analysts’ average estimate of T$46.3 billion.

($1 = 32.5590 Taiwan dollars)