Taiwan's Foxconn , the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.

December 2024 revenue soared 42.31% year-over-year, while setting a record for the highest fourth quarter revenue ever. Fourth Quarter: The Apple (AAPL) supplier — which is formally known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF) — said revenue in the fourth quarter grew 15.

Phone assembly giant Foxconn's revenue surged to $64.72 billion, beating analyst estimates due to high AI server demand in the current market, reported the news agency Reuters.