Taiwan’s Foxconn, formally known as Hon Hai Precision Industry, reported record second-quarter revenue of NT$1.797 trillion ($55 billion), a 15.82% increase from a year earlier and above the NT$1.7896 trillion LSEG SmartEstimate. The world’s largest contract electronics maker said sales were fueled by brisk orders for artificial-intelligence servers and steady demand for Apple’s iPhones. Revenue from the cloud and networking division, which supplies AI hardware to customers including Nvidia, led the gains, while the smart consumer-electronics segment was flat once currency effects were taken into account. June revenue reached NT$540.237 billion, the highest ever for that month and up 10.09% on the year, although it fell 12.26% from May. Foxconn expects both quarter-on-quarter and year-on-year growth in the current three-month period but cautioned that geopolitical tensions and currency volatility could temper momentum. The company will release full second-quarter earnings on Aug. 14.