Syed Imran Haider 
The biggest assembler of Apple’s iPhones and the largest contract electronics maker in the world. Foxconn said on Sunday that it expects revenue in the second quarter of the year to rise.
The Taiwanese company also reported record sales for April. It said that the second quarter was a ‘traditional off-peak season’, when major products are in a period of transition between old and new ones.
The expectations
However, it added that it expected to see both quarter-on-quarter and year-on-year growth in the operations outlook of the second quarter.
The company did not provide any numerical guidance and neither did it elaborate. Formally called Hon Hai Precision Industry Co Ltd, saw revenue in April reach $15.83 billion.
This is the highest number on record for the same month and marked a year-on-year growth of about 19%.
It said that there had been a significant year-on-year growth in its revenue related to consumer electronics products in April, which include smartphones.
The company also disclosed that there had been strong demand for artificial intelligence (AI) server in April for its networking and cloud products segment year-on-year.
The monthly sales data comes just before Foxconn is schedules its earnings call for the first quarter on May 14th.
Previous results
Previously, Foxconn had revealed that there had been a 9.6% decline in revenue in the first quarter year-on-year, which had seen it drop to T$1.322 trillion.
This had been less than the estimates analysts had put forward at about T$1.401 trillion. It should be noted that traditionally, the first quarter tends to be quieter than the last one.
It is because the fourth quarter usually sees tech companies in Taiwan race to supply tablets, smartphones and other electronics to prominent vendors like Apple.
This is due to the year-end holiday period in Western markets. On Thursday, Apple also shared its quarterly forecast and results.
Not only did they manage to beat expectations, but the company’s CEO, Tim Cook, also asserted that the current quarter would see a return in revenue growth.
Bullish outlook
A bullish outlook had been adopted by Foxconn in March for this year. During its earnings call for the fourth quarter, the company stated that it had expected a significant increase in revenue.
This was primarily due to the rising demand for AI servers. So far, the company has seen its share value go up by 50%, while the broader market recorded gains of about 13%.
On Friday, Foxconn saw its shares rise by 1.3%. The company is gradually recovering from the issues that had arisen due to the COVID-19 pandemic.
There had been rumors that slowing demand for iPhones could have an impact on Foxconn. But so far, both Apple and Foxconn have managed to deliver sold results for this year.
