Q1 Profit of KnightX Falls Short of Market Estimates, AI Storage High Expectations to Cool Off

BlockBeats News, July 31. Today, Kioxia of Japan released its financial report for the first quarter, with a net profit of ¥842.17 billion, compared to ¥18.28 billion in the same period last year. The market expectation was ¥973.81 billion. The first-quarter net profit fell short of market expectations.

Driven by AI, the demand for NAND flash memory remains strong. Kioxia's profitability is still at a historical high. However, this performance is below market expectations, reflecting that the market had already fully priced in the AI storage boom. The short-term investor sentiment may have cooled down. In the future, attention still needs to be paid to the company's full-year performance guidance and the impact of NAND supply and demand changes on profitability.