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Hitachi's Fiscal Q1 Profit Slips Despite 20% Revenue Rise

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Hitachi's Fiscal Q1 Profit Slips Despite 20% Revenue Rise

Hitachi's (TYO:6501) attributable net profit slipped 1.4% to 189.5 billion yen in the fiscal first quarter from 192.2 billion yen in the year-ago period, according to a Wednesday filing with the Tokyo Exchange.

Diluted earnings per share at the technology company increased to 42.21 yen in the quarter through June 30 from 41.98 yen in the prior-year period. The figure beat a forecast of 36.69 yen tracked by Investing.com.

Revenue increased nearly 20% to 2.710 trillion yen from 2.258 trillion yen a year earlier. The top line was higher than the forecast of 2.48 trillion yen. The Japan market contribution rose 11% year over year, while its overseas contribution jumped 25%.

Major segments also posted growth, most notably the energy sector increasing to 911.9 billion yen from 667.6 billion yen.

Hitachi revised its forecast upward for attributable profit by 50 billion yen to 900 billion yen for fiscal 2026, a 12% increase from the year-ago period.

The company upgraded its revenue forecast by 5% to 11.700 trillion yen, an increase of 11% from the year-ago figure.

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