You are here

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

ALrakuten0511.jpg
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

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes