TAIPEI (Taiwan News) — Foxconn reported record-high July revenue on Tuesday, reaching NT$613.86 billion (US$20.5 billion) as surging demand for AI server shipments drove a 13.63% monthly increase and a 7.25% year-on-year rise.

The electronics giant said strong demand for cloud networking products will support growth in the third quarter, while information and communications technology (ICT) products are entering their seasonal peak, per CNA. Foxconn expressed optimism for both quarterly and full-year growth but flagged geopolitical tensions and currency fluctuations as key risks.

Of its four major business segments, computers and consumer smart devices posted solid growth compared to June. Components and other products also showed notable month-on-month gains. While AI-related cloud networking demand remained strong, foreign exchange effects kept revenue from that segment roughly level with the previous month.

Year-on-year, cloud networking products grew significantly due to rising AI adoption. Computer segment revenue remained flat, while consumer electronics, components, and other products posted slight declines, again attributed to unfavorable exchange rates.

Cumulative revenue from January to July totaled NT$4.05 trillion, marking a 17.62% increase from the same period last year. The company credited steady component procurement, strong computer sales, and stable consumer product performance for the growth.

Looking ahead, Foxconn expects momentum in cloud networking to continue through Q3, with seasonal demand also boosting ICT product sales. The company said it will maintain a cautious outlook while monitoring global political developments.