Panasonic raises profit forecast on AI demand
Panasonic Holdings increased its full-year operating profit forecast by 20 percent to 710 billion yen. The upgrade was driven by stronger than expected artificial intelligence demand and higher electric vehicle battery sales.
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Panasonic Holdings Corp raised its full-year operating profit forecast 20% to 710 billion yen ($4.5B) on Friday morning. The Japanese manufacturer upgraded its outlook for the second successive quarter, driven by stronger-than-expected artificial intelligence demand. Investors responded to the surprise margin expansion, which reflects surging sales across both energy and industrial divisions in key overseas markets.
