Foxconn, the world's largest contract electronics manufacturer based in Taiwan, has reported its highest-ever revenues for the first quarter of the year, attributed to robust demand for artificial intelligence products.

The company announced that its revenues surged by 24.2% year-on-year, reaching TWD 1.64 trillion (approximately USD 49.5 billion).

This figure slightly underperformed compared to estimates from Smart Estimating, a London Stock Exchange Group service, which projected revenues of TWD 1.68 trillion based on more consistently accurate analyst forecasts.

In March alone, Foxconn's revenues increased by 23.4% year-on-year, amounting to TWD 552.1 billion, marking a record high for the month.

The company has stated it anticipates growth in the upcoming quarter compared to both the preceding three months and the same period from the previous year.

However, it issued a warning that the influences of changing global political and economic conditions must be closely monitored.

Details regarding specific impacts from these conditions were not elaborated on in the statement.

Notably, recent U.S. tariff increases on Chinese goods, with President Donald Trump implementing an additional 34% tariff last week, brings the total additional tariffs imposed on China this year to 54%.

The city of Zhengzhou in China houses Foxconn's largest iPhone manufacturing facility, which plays a significant role in its production capabilities.