By Kosaku NariokaNEC Corp. shares rose sharply Monday morning after it posted a 29% increase in fiscal-year operating profit on strong demand for information-technology services and projected further earnings growth. Revenue rose 9.9% to Y3.313 trillion, thanks to greater demand for information-technology services across various industries. Adjusted operating profit from NEC's enterprise segment climbed 28% to Y73.4 billion owing to higher sales to financial, manufacturing, retail and services clients. Adjusted operating profit from its global segment jumped 63% to Y42.9 billion due partly to the software and submarine businesses. For the fiscal year that started in April, NEC projected revenue to rise 2.0% to Y3.380 trillion and adjusted operating profit to increase 7.0% to Y220.00 billion.

Source: Wall Street Journal May 01, 2023 03:39 UTC