Kioxia Q2 Earnings Surge on Higher Revenue; Guides Q3 Revenue at JPY2.5 Trillion

Kioxia Holdings Corp. (285A.T) reported a sharp jump in second-quarter earnings on higher revenue, with earnings reaching JPY1.356 trillion versus JPY40.670 billion a year earlier. Earnings per share were JPY832.31, up from JPY24.86. Operating profit for the quarter totaled JPY1.995 trillion, compared with JPY85.921 billion in the prior-year period. Revenue rose to JPY2.480 trillion from JPY448.346 billion. For the third quarter, the Japanese chipmaker forecast attributable profit of JPY1.36 trillion, adjusted profit of JPY1.365 trillion and revenue of JPY2.5 trillion. Kioxia shares closed at JPY13,470 on the Tokyo exchange on Friday, down 7.14 percent.