𝐊𝐢𝐨𝐱𝐢𝐚: 𝐐𝟐 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐚𝐧𝐝 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐏𝐫𝐨𝐟𝐢𝐭 𝐁𝐞𝐚𝐭 𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐬, 𝐁𝐮𝐭 𝐐𝟑 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐅𝐚𝐥𝐥

$285A (+5,59 %)

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📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Revenue: $15.77B (Est. $15.61B) ✅, +453% YoY.

• Operating Profit: $12.68B (Est. $12.40B) ✅.

• Net Profit: $8.62B (Est. $8.62B) 🟰, +3,234% YoY.

• EPS: $5.33 (Est. $5.48) ❌, +3,237% YoY.

• Operating Margin: 80%, +8.6 pp QoQ.

• QoQ: Revenue +40%, Operating Profit +57%.

• H1 Operating Cash Flow: $15.13B.

• Cash: $8.89B.

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🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞

• Q3 Revenue: $15.9B (Est. $18.6B) ❌.

• Q3 Operating Profit: $12.7B (Est. $14.9B) ❌.

• Q3 Net Profit: $8.6B (Est. $10.2B) ❌.

• Q3 EPS: $5.41 (Est. $6.65) ❌.

• Q3 revenue expected to remain near Q2 levels despite strong data center demand, with yen appreciation weighing on results.

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📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Q2 revenue beat consensus by ~1.0%, while EPS missed by ~2.7%.

• Q3 revenue guidance stands ~14.5% below consensus, with EPS ~18.6% lower.

• SSD & Storage revenue increased 38% QoQ to $10.28B, supported by AI data center demand.

• Smart Devices revenue surged 50% QoQ to $5.02B.

• Higher NAND selling prices and increased bit shipments drove record profitability.

• Management expects strong data center demand to continue.

• Announced its first dividend since listing at ¥90 per share, payable December 8.

• Introduced a shareholder return policy targeting 100% of surplus cash through dividends and buybacks.

• Completed $5.09B in share repurchases during H1.

• Implemented a 3-for-1 stock split effective October 1.

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🔎 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐜𝐞

Exceptional NAND pricing and AI-driven storage demand are supporting record margins, but Q3 guidance materially below consensus highlights currency headwinds and near-term earnings uncertainty.