Hon Hai Profit Soars on Sustained Demand for AI Hardware

Hon Hai Precision Industry Co., an Nvidia partner, has reported a better-than-expected increase in quarterly profit. The company's net income for the three months ended in June rose 35% to NT$60 billion ($1.9 billion), exceeding analysts' average projection of NT$58.4 billion.

The strong results follow a 40% rise in quarterly sales previously reported by Hon Hai, which has been benefiting from sustained demand for AI hardware globally. Revenue in July jumped 54.2% to NT$946.5 billion, with analysts expecting a 32% increase in sales in the current quarter.