Q1 net profit expected to jump 129 yryr
Yearago period profit impacted by Sharp stake writedown
Foxconn, analysts both bullish on AI server demand
Foxconn39;s shares have surged 60 so far this year
Q1 earnings call at 0700 GMT on May 14

TAIPEI, May 10 Reuters Taiwan39;s Foxconn, the world39;s largest contract electronics maker, is expected to report on Tuesday that firstquarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago.

Last month, the company said firstquarter revenue slid 10 from a year earlier but it has been bullish about 2024.

Net profit for JanuaryMarch for Apple39;s top iPhone assembler likely came in at T29.3 billion 904.6 million, according to an LSEG consensus estimate of 15 analysts.

That would represent a 129 increase from the same period a year ago when profit sagged after the company took a T17.3 billion writedown related to its 34 stake in Japanese electronics maker Sharp Corp. It would also mark a third consecutive quarter of profit growth.

Foxconn obviously is putting a lot of effort into its AI servers. Targeted clients include HP and Dell, said Allen Huang, a vice president at Mega International Investment Service.

Analysts at KGI Securities wrote in a client note that they expected the first quarter to be Foxconn39;s sales trough for the year, with AI cloud server sales continuing to see huge demand.

As for 2025, we expect cloud sales to remain the major sales…