Foxconn Technology Group reported weaker-than-expected quarterly results as the world’s largest contract electronics maker continued moving into growth areas such as artificial intelligence and electric vehicles.

Taiwan's Foxconn, the world's largest contract electronics maker, forecast strong revenue growth in the first quarter after reporting a surprise 13% drop in fourth-quarter profit. Foxconn, whose businesses include manufacturing iPhones for Apple and artificial intelligence servers for Nvidia,

Foxconn Technology's (OTCPK:FXCOF) fourth quarter net profit fell 12.8% year-over-year, though the Nvidia supplier forecast AI server revenue to more than double in th