Renesas’ Q3 net income up more than twofold y/y to USD290.5 million

Company forecasts full-year semiconductor sales to grow 22% y/y

Renesas has reported a more than twofold increase in net income to JPY32.7 billion (USD290.5 million as on 30 September 2017) for the third quarter ended 30 September 2017, the Japanese supplier said in a press release on 2 November. The company attributed the strong growth in net income to 28.1% year-over-year (y/y) increase in net sales to JPY195.5 billion. Higher sales also helped Renesas more than double its operating income in the third quarter to JPY35.9 billion, while operating margin reached 18.4% compared with 10.8% a year earlier.