Renesas Electronics Corp. announced its financial results for the first quarter ended March 31, 2018. Net revenues for Q1 2018 were ¥185.9 billion ($1.69 billion), an increase of 4.67%, compared to ¥177.6 billion ($1.62 billion) in Q1 2017. Net profit for the first quarter of 2018 was ¥23.3 billion ($210 million), an increase of 35.4%, compared to ¥17.2 billion ($160 million) in Q1 2017.
Looking forward to the second quarter and first half of 2018, Renesas forecasts stable demand in automotive and industrial businesses and strong sales of semiconductor. The firm expects semiconductor sales of ¥192.7 billion ($1.75 billion) in Q2 2018 and for the first half of 2018 ending in June 30, 2018; it expects semiconductor sales of ¥374.7 billion ($3.41 billion), up 2.1% year-on year.
