Stock Track | FIT Hon Teng Soars 5.04% Intraday on Strong Q1 Earnings and AI Server Optimism

Stock Track

05/13

FIT Hon Teng's stock soared 5.04% during intraday trading on Wednesday, staging a significant recovery.

The surge follows the company's recently reported first-quarter results, which showed robust financial performance. Revenue and other operating income reached USD 1.198 billion, marking an 8.61% year-over-year increase. More notably, net profit from continuing operations jumped 67.32% year-over-year to USD 10.446 million.

Analysts point to management's optimism regarding AI server upgrades over the next three years as a key driver. The company has reportedly raised its revenue contribution forecast for its cloud and data center business for 2026-2028. This positive outlook, combined with the stock's oversold condition following a sharp decline in the previous session, provided strong support for the rebound.

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