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Japanese companies posted their largest earnings beat in five years despite soaring oil costs, fueling hopes that strong profit growth across sectors can broaden the market rally beyond AI-related trades.
Investing.com-- Tokyo Electron Ltd. (TYO:8035) shares rose sharply on Friday after the Japanese chipmaking equipment maker forecast above-consensus earnings for the first half of the fiscal year, thanks to outsized AI-fueled demand.
Earnings per share for the fiscal third quarter were $1.47, besting Wall Street’s consensus estimate of $1.36, and up from $1.04 last year.
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