Japan's Advantest hikes FY profit outlook by 53% on stronger chip tester demand
News31 Jul 2024
TOKYO (Reuters) - Japan’s Advantest hiked its full year operating profit forecast by 53% on Wednesday citing stronger than expected growth in demand for chip testing equipment.
Advantest expects profit of 138 billion yen ($903.02 million) in the year ending March 2024, pointing to the increasing complexity of chips related to generative artificial intelligence (AI) as boosting the use of testing tools.
($1 = 152.8200 yen)
(Reporting by Sam Nussey; Editing by Shri Navaratnam)
Business Reporter Team
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