TOKYO (dpa-AFX) - NEC Corp. (6701.T, NIPNF), a Japanese information technology and electronics company, on Wednesday reported higher net income in the first quarter compared with the previous year. The company lowered revenue and expects higher adjusted operating profit, adjusted net income and earnings per share for the full year 2027.
For the first quarter, net profit attributable to owners of the parent increased to 49.70 billion yen from 19.31 billion yen in the previous year.
Earnings per share were 37.47 yen versus 14.49 yen last year.
Adjusted net profit attributable to owners of the parent increased to 60.88 billion yen from 22.28 billion yen in the prior year.
Adjusted earnings per share were 45.90 versus 16.72 last year.
Operating profit jumped to 58.77 billion yen from 35.39 billion yen in the prior year.
Revenue increased to 819.78 billion yen from 715.67 billion yen in the previous year.
Looking ahead, the company expects full year 2027 revenue to be at 3.54 trillion yen compared with the previous guidance of 3.58 trillion yen.
Adjusted operating profit for the full year 2027 is now expected to be at 430 billion yen compared with the previous outlook of 420 billion yen.
For the full year 2027, Adjusted net profit attributable to owners is anticipated to be at 290 billion yen compared with 280 billion yen in the previous guidance. Adjusted earnings per share of 218.65 yen, compared with the previous 214.88 yen.
NEC closed trading 2.74% higher at JPY 4,613 on the Tokyo Stock Exchange.
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