KDDI October-December Profit Surges 85%

KDDI KDDIY reported a surge in its net profit for the October-December quarter. KDDI's quarterly net profit rose 85% to 100.49 billion yen ($1.1 billion), versus Y54.22 billion, in the year-ago period. Its revenue climbed 7.5% to Y969.98 billion from Y902.13 billion. However, operating profit jumped 39.9% to Y164.33 billion from Y117.48 billion. For this fiscal year ending March, KDDI cut its net profit forecast to Y235 billion from Y250 billion. It also raised its revenue forecast to Y3.630 trillion from Y3.580 trillion. KDDI shares closed at $17.94 on Friday.