Advantest Surges After Raising Forecast on Strong Earnings

Advantest Corp. shares jumped as much as 14% to a record high after the company beat earnings estimates and raised its forecast.

The chip equipment maker posted third-quarter operating income of ¥114 billion ($744 million), topping the ¥72 billion analyst consensus. The firm also raised its full-year operating profit forecast to ¥454 billion from the previous ¥374 billion. That compares to Bloomberg Consensus of around ¥385 billion.