Takashi Mochizuki / Bloomberg : NAND maker Kioxia reports FY Q2 operating profit up 22x YoY to ~$12.7B, in line with est., but forecasts Q3 operating profit of ~$12.7B, below ~$14.9B est. — Kioxia Holdings Corp. delivered a profit outlook that trailed estimates, warning that an AI-fueled surge in flash memory chip prices …
NAND maker Kioxia reports FY Q2 operating profit up 22x YoY to ~$12.7B, in line with est., but forecasts Q3 operating profit of ~$12.7B, below ~$14.9B est. (Takashi Mochizuki/Bloomberg)
In short
Kioxia Holdings Corp. achieved a twenty-two-fold increase in its fiscal second-quarter operating profit, matching expectations at approximately $12.7 billion. The massive expansion was underpinned by an AI-fueled rally in flash memory chip prices across the industry. Looking ahead, the chipmaker projects third-quarter operating profit to hold flat at about $12.7 billion. That forward guidance falls notably short of the $14.9 billion analysts had anticipated for the period.
Key points
- Second-quarter earnings matched market estimates following significant artificial intelli…: Second-quarter earnings matched market estimates following significant artificial intelligence demand for flash memory.
- Forward guidance came in below analyst projections of approximately $14.9 billion for the…: Forward guidance came in below analyst projections of approximately $14.9 billion for the third quarter.
- Expected quarter-over-quarter flat operating profit indicates an impending pause in the c…: Expected quarter-over-quarter flat operating profit indicates an impending pause in the company's rapid earnings growth.