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

Topics Toshiba | Toshiba Corp | Results


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,.

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