Toshiba reports 75% plunge in Q2 operating profit, cuts full-year outlook

Posted on November 11, 2022Comments Off on Toshiba reports 75% plunge in Q2 operating profit, cuts full-year outlook

© Reuters. FILE PHOTO: The logo of Toshiba Corp is displayed atop of the company’s facility building in Kawasaki, Japan, June 24, 2022. REUTERS/Issei Kato

TOKYO (Reuters) – Japan’s Toshiba Corp on Friday reported a 75% slump in second-quarter operating profit and lowered its full-year earnings outlook. It posted an operating profit of 7.54 billion yen ($53.2 million) for the July-September quarter. The result compared with a consensus estimate of 36.9 billion yen from four analysts polled by Refinitiv.
Toshiba, which is exploring options for a buyout, cut its profit forecast for the year ending March to 125 billion yen from 170 billion yen. ($1 = 141.6500 yen)

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Comments Off on Toshiba reports 75% plunge in Q2 operating profit, cuts full-year outlook