Kioxia Reports Huge Profit Jump in Latest Earnings
Listen to the story
Kioxia is a company from Japan. It makes computer chips. These chips store data.
Kioxia shared its new earnings report. Earnings show how much money a company makes.
For the first half of the year, Kioxia's net profit grew 37 times bigger. Net profit is money left after all costs.
From July to September, profit grew 33 times bigger than last year.
This is a very big change. It shows strong business for Kioxia.
But something strange happened. After the news, Kioxia's share price fell a lot. A share price is the cost to buy a small part of a company.
At one point, the share price dropped by 70 percent. This surprised many people.
Experts are not sure why the price fell so much. The profit news was very good.
People who watch the stock market are talking about this. They want to understand why investors sold shares.
Kioxia makes a kind of chip called memory chips. Memory chips help computers and phones save information.
The company is important in the semiconductor industry. Semiconductors are small parts inside electronic devices.
This story shows that good news does not always make a stock price go up.
Vocabulary5 words
- earnings
- money a company makes
- net profit
- money left after paying all costs
- share price
- the cost to buy a small part of a company
- memory
- a part that stores information in a device
- semiconductor
- a small part inside electronic machines
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Quiz
Answer key
1. Computer chips 2. 33 times bigger 3. It fell a lot
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Kioxia is a company from _____. It makes computer chips.
Kioxia shared its new _____ report.
For the first half of the year, Kioxia's net profit grew _____ times bigger.
From July to September, profit grew _____ times bigger than last year.
After the news, Kioxia's share _____ fell a lot.
At one point, the share price dropped by _____ percent.
Kioxia makes a kind of chip called _____ chips.
The company is important in the _____ industry.
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