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Japan's Rakuten operating profit rises 20.9%, beats forecasts

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Japan's Rakuten Inc posted a 20.9 per cent rise in third-quarter operating profit, slightly better than analysts' estimates, boosted by higher sales at its e-commerce and travel units.

[TOKYO] Japan's Rakuten Inc posted a 20.9 per cent rise in third-quarter operating profit, slightly better than analysts' estimates, boosted by higher sales at its e-commerce and travel units.

Japan's largest e-commerce company said operating profit for the July-September quarter rose to 28.34 billion yen (US$247.90 million), compared to the 29.42 billion yen average estimate by six analysts, according to Thomson Reuters StarMine.

Net profit for the quarter was 76 per cent higher year-on-year at 19.373 billion yen, the company said.

Shares in Rakuten ended 1.2 per cent lower in Tokyo before the results were announced.

REUTERS