By Kosaku Narioka
Shift Inc. shares rose sharply Tuesday morning after the Japanese software-testing company said its first-half operating profit climbed 33%, thanks partly to client gains.
Shares were recently 19% higher at 26,650 yen after rising as much as 21% earlier.
Shift said after Monday’s market close that operating profit increased to Y5.08 billion ($38.0 million) for the six months ended Feb. 28 from Y3.83 billion a year earlier.
First-half revenue rose 35% to Y40.34 billion, as the number of clients increased in various industries and revenue per client improved.
Net profit dropped 18% to Y2.185 billion due primarily to Y1.57 billion of valuation losses in some of its marketable securities.
Shift maintained its earnings projections for the year ending in August. The company continued to expect revenue to increase 34% to Y87.00 billion and net profit to climb 27% to Y6.30 billion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
By Kosaku Narioka
Shift Inc. shares rose sharply Tuesday morning after the Japanese software-testing company said its first-half operating profit climbed 33%, thanks partly to client gains.
Shares were recently 19% higher at 26,650 yen after rising as much as 21% earlier.
Shift said after Monday’s market close that operating profit increased to Y5.08 billion ($38.0 million) for the six months ended Feb. 28 from Y3.83 billion a year earlier.
First-half revenue rose 35% to Y40.34 billion, as the number of clients increased in various industries and revenue per client improved.
Net profit dropped 18% to Y2.185 billion due primarily to Y1.57 billion of valuation losses in some of its marketable securities.
Shift maintained its earnings projections for the year ending in August. The company continued to expect revenue to increase 34% to Y87.00 billion and net profit to climb 27% to Y6.30 billion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
By Kosaku Narioka
Shift Inc. shares rose sharply Tuesday morning after the Japanese software-testing company said its first-half operating profit climbed 33%, thanks partly to client gains.
Shares were recently 19% higher at 26,650 yen after rising as much as 21% earlier.
Shift said after Monday’s market close that operating profit increased to Y5.08 billion ($38.0 million) for the six months ended Feb. 28 from Y3.83 billion a year earlier.
First-half revenue rose 35% to Y40.34 billion, as the number of clients increased in various industries and revenue per client improved.
Net profit dropped 18% to Y2.185 billion due primarily to Y1.57 billion of valuation losses in some of its marketable securities.
Shift maintained its earnings projections for the year ending in August. The company continued to expect revenue to increase 34% to Y87.00 billion and net profit to climb 27% to Y6.30 billion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
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