TAIPEI (TVBS News) — Hon Hai (鴻海) announced record-breaking financial results for 2024 on Friday (March 14), by reporting an after-tax net profit of NT$152.705 billion, with earnings per share (EPS) reaching NT$11.01. During its earnings call, Hon Hai anticipated surpassing its 2024 performance this year, driven by growth in cloud networking, components, and other products.
Hon Hai achieved NT$6.859615 trillion in revenue in 2024, marking an 11% increase from the previous year. The gross margin stood at 6.25%, a slight decrease of 0.05 percentage points, while the operating margin rose by 0.22 percentage points to 2.92%. The net profit attributable to shareholders increased by 7%, with a net profit margin of 2.23%, a decrease of 0.08 percentage points.
During the fourth quarter of last year, Hon Hai's revenue reached NT$2.130504 trillion, a 15% increase both quarter-over-quarter and year-over-year. Despite a 6% quarterly and 13% yearly decrease in net profit attributable to shareholders, the company's overall quarterly revenue exceeded expectations. Cloud networking products grew strongly, while consumer smart products remained flat compared to the previous year.
For the full year of 2024, consumer smart products accounted for 46% of Hon Hai's revenue, while cloud networking contributed 30%. Computer end products made up 18%, and components and others accounted for 6%. The company saw significant growth in cloud networking, components, and computer end products, aligning with expectations, although consumer smart products experienced a slight decline.
