🧔♂️ A friendly human may check it before it goes live. More news here
Japanese chipmaker Kioxia reports $2.7b profit, stock up 19%
Kioxia shares surged 19% on Feb. 17, marking their biggest gain since the company’s Tokyo Stock Exchange debut in December 2024.
The chipmaker reported a 415 billion yen (US$2.7 billion) operating profit for the nine-month period ending in December, reversing a 297 billion yen (US$1.9 billion) loss.
Kioxia expects full-year operating income of 431 billion yen (US$2.8 billion) to 453 billion yen (US$3 billion), citing anticipated growth in smartphone and PC demand.
Shares traded at 2,172 yen (US$14.3) on Feb. 17, nearly 50% above the IPO price of 1,455 yen (US$9.6), as the company entered the Tokyo Stock Exchange’s prime market.
Analysts highlight stable demand from data centers and enterprises, with this earnings report being Kioxia’s first since its late 2024 IPO.
Recent Kioxia developments
| Timeline |
|---|
19-Dec-2024 📈 Japanese chipmaker Kioxia hits $5.6b valuation in IPO debut
|
10-Dec-2024 📈 Japanese chipmaker Kioxia raises $793m in IPO
|
21-Nov-2024 💰 Japanese chipmaker Kioxia plans $4.8b Tokyo IPO in December
|
08-Nov-2024 📈 Japanese chipmaker Kioxia to launch IPO under new rules
|
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.