NTT H1 Profit Up, Sales Down; Lifts FY Profit View, Cuts Sales Forecast

(RTTNews) - Nippon Telegraph and Telephone Corp. (NTT) reported Friday that its first-half attributable net income climbed 26.2 percent to 476.1 billion yen from 377.32 billion yen last year.

Operating income grew 26.3 percent to 926.5 billion yen

Operating revenues were 5.52 trillion yen, down 1.2 percent from 5.58 trillion yen a year ago.

Overseas sales dropped 6.6 percent to 868.4 billion yen. In dollar basis, overseas sales increased 3.2 percent to $7.98 billion.

Looking ahead, for the full year, the company now expects attributable net income of 770 billion yen or 376 yen per share, a growth of 20 billion yen from initial estimate.

Operating income is now expected to be 1.47 trillion yen, 40 billion yen higher that earlier estimate.

Operating revenues are now expected to be 11.41 trillion yen, down 40 billion yen from initial forecast.

Further, for fiscal 2017 ending March 31, 2018, the company now expects earnings per share of at least 400 yen, compared to initial estimate of at least 350 yen.

In Japan, NTT shares lost 4.20 percent at today's trading and settled at 4,267 yen.