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Taiwan's Foxconn reports 34% rise in Q3 profit, beats forecasts

Reuters

TAIPEI, Nov ‌12 (Reuters) - Taiwan's Foxconn, the ​world's ‌largest contract electronics maker, ‌reported a 34% rise in ‌third-quarter profit on Thursday, beating analyst forecasts on continued ⁠strong demand for ‌AI.

Net profit ⁠for the July to ​September period for Nvidia's biggest ​server maker and ​Apple's ‌top iPhone assembler ​was T$77.5 ⁠billion ($2.35 billion), ‌versus an LSEG ​consensus ​estimate of T$69.6 billion and compared with T$57.7 billion ‌a year earlier.

($1 = 32.9740 Taiwan ‌dollars)

(Reporting ​by Ben Blanchard, Wen-Yee Lee and Yimou Lee; Editing ‌by Tom Hogue)