Kioxia Q2 Earnings Surge

(RTTNews) - Kioxia Holdings Corp. (285A.T) on Friday recorded a significant increase in its second quarter earnings on higher revenue, and provided its outlook for the third quarter.

The Japanese company reported second quarter earnings of JPY1.356 trillion, compared to JPY40.670 billion last year.

The corresponding earnings per share were JPY832.31 and JPY24.86, respectively.

The company's operating profit for the quarter was JPY1.995 trillion, as against the prior year figure of JPY85.921 billion.

Revenue for the period rose to JPY2.480 trillion from JPY448.346 billion in the prior year quarter.

Looking ahead, for the third quarter, Kioxia has forecast its attributable profit to reach JPY1.36 trillion, adjusted profit to total JPY1.365 trillion, with an expected revenue of JPY2.5 trillion.

In Friday's regular trading on the Tokyo exchange, Kioxia shares closed at JPY13,470, down 7.14 percent.

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