FX.co ★ Hitachi Q3 Profit Rises, Revenues Down; Stock Up

Hitachi, Ltd., a prominent Japanese multinational conglomerate, reported a strong surge in its third-quarter net income on Wednesday. The net income, attributed to stockholders, witnessed a significant increase from 119.7 billion yen in the previous year to 235.9 billion yen. This growth is also evident in the earnings per share, which jumped from 127.48 yen to 254.77 yen.

Meanwhile, the earnings before interest and taxes (EBIT), an essential earnings benchmark, climbed to 327.1 billion yen, a considerable rise from 182.2 billion yen recorded a year ago.

Despite these increases in income and earnings, Hitachi saw a decline in its revenues, dropping from 2.69 trillion yen in the previous year to 2.26 trillion yen.

In addition, Hitachi's shares in the local market exhibited a promising improvement, boasting a 2.95 percent increase to trade at 11,675 yen.