On July 31, KIOXIA HLDGS CORP fell 8.48% in regular trading, trading at $28.31/share, with turnover of $61.95 million. The stock is giving back gains from the previous session's 31% surge as investors lock in profits following an earnings report that missed key expectations.
KIOXIA HLDGS CORP reported fiscal Q1 results showing net income surging 4,506% year-over-year to 842.17 billion yen and revenue rising 415% to 1.77 trillion yen. However, operating profit of 1.27 trillion yen fell short of the market consensus of 1.37 trillion yen, while net income also missed the expected 973.81 billion yen. The prior session's sharp rally had been driven by the earnings release alongside a broad storage chip sector surge, with Micron Technology, SK hynix, and Intel all posting double-digit gains. Today, however, the storage segment has turned lower, with Micron Technology down 2.81% and SK hynix down 0.92%, adding to the reversal pressure on KIOXIA HLDGS CORP.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments