According to ME News, on July 31 (UTC+8), Kioxia reported an operating profit of ¥1.27 trillion for the first quarter, compared to ¥44.9 billion in the same period last year, against a market estimate of ¥1.37 trillion. First-quarter net profit amounted to ¥842.17 billion, compared to ¥18.28 billion in the prior-year period, versus a market estimate of ¥973.81 billion. Kioxia has announced a 3-for-1 stock split and a share repurchase program. (Source: BlockBeats)
Kioxia's Q1 net profit falls short of market expectations
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Summary
Market trends show Kioxia’s Q1 operating profit at 127 billion yen, down from 44.9 billion yen a year ago and below the market estimate of 137 billion yen. Net profit was 84.217 billion yen, compared to 18.28 billion yen in the prior year and below the market forecast of 97.381 billion yen. The company also announced a 1-for-3 stock split and a share buyback plan.
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