Foxconn, the world's largest contract electronics maker and a key supplier to Apple, reported a significant increase in its first-quarter profit. The company announced a 72% year-over-year rise in net profit, reaching approximately $679 million. This surge was primarily driven by strong demand for computer servers and a low base from the previous year. Despite the profit increase, Foxconn's revenue for the quarter fell by 9% year-over-year to around $40.9 billion. Consumer electronics accounted for 48% of its revenue, while cloud services contributed 28%. The profit jump, however, missed market forecasts. The Q1 results were reported on May 14.