Kioxia sets stock split after miss

Kioxia approved a 3-for-1 stock split effective Oct. 1 after its April-June results missed analyst estimates despite a sharp AI-driven memory rebound. Revenue rose more than fivefold to 1.77 trillion yen and operating profit jumped to 1.27 trillion yen, below Bloomberg consensus of 1.84 trillion yen in revenue and 1.37 trillion yen in operating profit.

Source: Bloomberg