TOKYO -- Hitachi reported a record first-quarter net profit for the first time in eight years on Friday, as the "internet of things" drives a resurgence of the Japanese conglomerate's information and telecommunications business.
Consolidated net profit reached 105.2 billion yen ($948 million) for the three months ended June 30, up 40% from the first quarter of fiscal 2017. Operating profit jumped 12% on the year to 148.1 billion yen, setting a first-quarter record for the second straight year. Sales rose 4% to 2.17 trillion yen.
