Fujitsu shares tumble after missed earnings forecast and projected 31% profit drop
Updated
Updated · MarketWatch · Apr 30
Fujitsu shares tumble after missed earnings forecast and projected 31% profit drop
3 articles · Updated · MarketWatch · Apr 30
Summary
Shares fell over 15% to 3,133 yen in Tokyo, marking the largest single-day decline in 11 years, before settling 13% lower at midday.
Fujitsu's annual revenue dropped 1.3%, and its revenue and profit guidance missed analyst estimates, prompting a 26% year-to-date stock decline against the Nikkei 225's 19% rise.
Investor concerns over AI disruption have pressured software and IT stocks, while Fujitsu announced a 150 billion yen share buyback and is pursuing AI integration in its consulting services.