Panasonic Holdings Corp., a leading Japanese electronics company, released its nine-month earnings report last Friday. The results highlighted a significant increase in both profit and net sales as compared to the same period last year. Importantly, the company also reaffirmed its financial outlook for the fiscal year 2024.
The report showed that net profits attributable to shareholders surged by 145.1% over the nine-month period, reaching 399.18 billion Japanese Yen, a significant increase from last year's 162.87 billion yen.
Earnings per share also rose markedly, jumping from 69.76 yen a year ago to the current 170.96 yen, showing a drastic increase in the company's profitability.
Before taxes, the company's profit reported a 44.4% increase year-on-year, achieving 368.78 billion yen, while operating income rose 36.7% to 320.26 billion yen.
Regarding net revenues, the company also reported a slight increase of 1.2%, totaling 6.30 trillion yen, compared to 6.22 trillion yen in the previous year.
Panasonic's outlook for the fiscal year 2024 remains positive. The company projects an attributable profit of 460 billion yen, or 197.07 yen per share, representing a 73.33% increase over the previous year. The company also expects an operating income of 400 billion yen, marking a 38.6% year-on-year increase, and net sales amounting to 8.40 trillion yen, a modest 0.3% rise over the previous year.
In Japan, Panasonic's share value closed at 1,382.50 yen, reflecting a slight increase of 0.04%.
