TOKYO (dpa-AFX) - Japanese technology company NEC Corp. (NIPNF.PK) on Thursday reported higher earnings in the first nine months of 2024, helped by strong performances in domestic IT services and ANS. Boosted by the nine-month performance, the company raised its guidance for fiscal 2025.
The company posted a profit of 71.6 billion yen in the nine-month period, a 110% growth from 34.0 billion yen recorded in the same period last year. Earnings per share climbed to 268.52 yen from 127.77 yen a year ago.
On an adjusted basis, income soared 98% to 108.4 billion yen from 54.7 billion reported in the previous-year period. Adjusted earnings climbed to 406.71 yen per share from 205.17 yen per share last year.
Operating profit grew 80.7 percent from last year to 126.17 billion yen.
Revenues for the nine-month period, however, declined 3% to 2.32 trillion yen from 2.39 trillion yen recorded in the same period a year ago.
Looking ahead, the company lifted its outlook for fiscal 2025, based on the nine-month results. The company now expects revenues of 3.41 trillion yen, down 1.9 percent from last year, while adjusted operating profit would grow 16.3 percent to 260 billion yen, and adjusted net profit would grow 2.3 percent to 182 billion yen or 683.04 yen per share for the year ahead.
NEC had earlier forecast revenues of 3.37 trillion yen and adjusted net profit of 165 billion yen for fiscal 2025.
In Tokyo, NEC Corp. shares closed Thursday's regular trading at 13,115.00 yen, down 2.38%.
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