What drove APH's earnings growth in 2024?

Amphenol Corporation (APH) experienced a notable increase in net income and revenue in 2024, driven by several key factors:

1. **Organic Growth in Key Markets**: Amphenol's performance was bolstered by strong growth in specific markets, including IT datacom, defense, commercial air, mobile devices, and automotive. These sectors contributed significantly to the company's revenue growth.
2. **Acquisitions**: The company's strategic acquisitions played a crucial role in boosting its financial performance. For instance, the acquisitions of Lutze and CommScope’s mobile networks-related businesses are expected to enhance Amphenol's market position and revenue streams.
3. **AI-Driven Demand**: The increasing demand for AI-related products and solutions contributed to Amphenol's growth. The company reported strong orders driven by AI-related demand, which led to a record revenue and adjusted diluted EPS in Q2 2024.
4. **Global Diversification**: Amphenol's operations in over 40 countries ensured a diversified revenue base, mitigating risks associated with market volatility in specific regions. This global reach supported the company's overall growth strategy.

In summary, Amphenol's 2024 earnings growth was driven by a combination of organic market growth, strategic acquisitions, and demand for advanced technologies such as AI-related products.