Tokyo Electron hikes FY profit forecast by 8.5% [Yahoo! Finance]
TOKYO ELECTRON UNSP/ADR (TOELY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
billion) amid chip industry investment supported by the growth of artificial intelligence. Profit in the July-September quarter climbed 54% to 148 billion yen compared to the same period a year earlier as the Japanese chip equipment maker was boosted by investment in AI and legacy chipmaking in China. Tokyo Electron made 41.3% of net sales in China in the quarter, compared to 49.9% in the previous quarter, with sales growing in North America and Japan. The company said it would buy back up to 3.5 million shares for up to 70 billion yen. ($1 = 153.8700 yen) (Reporting by Sam Nussey; Editing by Christopher Cushing)
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Analyst Actions
- 10/9/24 - Sanford C. Bernstein