NTT's profit soars despite revenue dive

NTT's net income rose 28% over the six months ending in September, reaching 56 billion yen ($572 million), despite a $131 million decrease in revenue over the period.

The company recorded an operating revenue of $4.8 billion for the first half of Japan's financial year, and also recorded a small decrease in operating income.

Despite these blemishes, the result has been enough to prompt NTT to revise its FY2008 forecast upwards.

The company has added $112 million to its projected net income, and now expects to earn $837 million.

Non-IP based voice transmission services continue to contribute the majority of NTT's revenue, but revenue from these services declined 6.6% over the period. The company's revenue from non-IP based data communications also declined, by nearly 10%.

But this was counterbalanced by a 5.2% increase in IP services revenue, and an 11.4% increase in revenue from solution services.

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