TOKYO, July 31 (Reuters) - Kioxia said on Friday it expects to report operating profit of 1.89 trillion yen ($11.78 billion) in the July-September quarter as AI investment boosts demand for its memory chips.
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That compares with an average estimate of 1.95 trillion yen from eight analysts surveyed by LSEG.
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Kioxia reported operating profit of 1.27 trillion yen in the April-June quarter
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Kioxia said it would spend up to 800 billion yen buying back up to 30 million shares
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Kioxia said it will conduct a three-for-one stock split effective October 1
($1 = 160.4200 yen)
Reporting by Sam Nussey; Editing by Muralikumar Anantharaman
Source: Reuters