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Toshiba's second-quarter profit down 64% on pandemic, below estimates

Operating profit for the second quarter ended September came to 15.75 billion yen ($149.84 million), down from 44.23 billion yen in the same period a year prior

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Toshiba | Toshiba Corp | Results

Reuters  |  TOKYO 

TOKYO (Reuters) - Japan's Toshiba Corp on Wednesday reported a 64% drop in quarterly operating profit as the industrial conglomerate struggled with the impact of the COVID-19 pandemic. Operating profit for the second quarter ended September came to 15.75 billion yen ($149.84 million), down from 44.23 billion yen in the same period a year prior. That compared with a 23.30 billion yen average of five analyst estimates compiled by Refinitiv. Toshiba maintained its profit forecast for the year ending March at 110 billion yen, down 15.7% from a year earlier. The outlook ...

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First Published: Wed, November 11 2020. 10:41 IST
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