Apple supplier Foxconn’s Q2 profit rises 6% on year, beats forecasts

TAIPEI (Reuters) – Apple (NASDAQ:) supplier Foxconn reported on Wednesday a 6% rise in second-quarter net profit, driven by strong AI server demand.

The Taiwanese company, the world’s largest contract electronics maker, said net profit for the April-June quarter rose to T$35.05 billion ($1.09 billion) from T$33 billion in the same period the previous year.

The profit beat analysts’ average estimate of T$34.29 billion.