The world's biggest contract electronics manufacturer has been moving beyond assembling devices such as Apple's iPhones into areas ranging from electric vehicles to AI servers.

The company said net profit in the first three months soared 91 percent year-on-year to NT$42.1 billion (US$1.4 billion).

That beat an average forecast of NT$35.5 billion, according to a Bloomberg News survey of analysts.

Revenue in the three-month period increased 24 percent on-year to NT$1.6 trillion.

Foxconn chairman Young Liu said the company's "seasonal performance was better than the average level of the past five years", with revenue at a record high.

"The performance of (the) AI server business was quite impressive, with revenue growth of more than 50 percent compared with the same period last year," he told an online briefing.

But, he added that Foxconn had "a more cautious view of the outlook for the near term" following "frequent shifts in US tariff policy" and "exchange rate volatility".

Foxconn, also known as Hon Hai Precision Industry, has been riding a wave of global demand for generative AI technology in recent years.

The earnings announcement covers the period before Donald Trump's global tariff blitz sent global markets into freefall.

The US president announced hefty levies against US trade partners on April 2 before pausing them for 90 days, including a 32 percent duty on Taiwanese imports excluding semiconductors.

While Foxconn has plants around the world, the bulk of its operations is based in China, which were hit by 145 percent US tariffs until the two countries agreed this month to drastically reduce levies for 90 days.

Foxconn has been in the spotlight over potential cooperation with Japanese automaker Nissan after its merger talks with rival Honda fell through in February.

The company's EV unit last week agreed in principle to develop and supply an electric vehicle model to Japan's Mitsubishi Motors.

It marks Foxconn's first major contract in the fast-growing EV sector, and comes as analysts say many Japanese automakers will need to seek alternative partners to stay competitive as cars become more high-tech.

Mitsubishi Motors and Foxtron Vehicle Technologies said they had signed a memorandum of understanding and would "proceed with discussions towards a definitive agreement".

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