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Bridgestone Reports 15% Decline In Q2 Net Profit, Lifts Forecast

By Insider Scoop
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Courtesy of Benzinga.

Bridgestone Corp (OTC: BRDCY) reported a 15% drop in its second-quarter net profit and raised full-year profit forecast.

Bridgestone reported its quarterly net profit at Y22.7 billion, down from Y26.8 billion, in the year-ago period. Its sales rose 3.8% y/y to Y754.7 billion from Y726.8 billion. Bridgestone’s operating profit dropped 11% y/y to Y37.7 billion from Y42.4 billion.

For the current year ending December 31, Bridgestone raised its profit forecast to Y115 billion from Y94 billion. It also lifted its operating profit outlook to Y194 billion from Y167 billion.

Bridgestone shares fell 0.40% to close at $45.21 on Friday.

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