Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,807.55
    +1,843.40 (+2.67%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,242.00
    +29.30 (+1.32%)
     
  • Crude Oil

    83.05
    +1.70 (+2.09%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Toshiba posts first quarterly operating loss in nearly four years

FILE PHOTO: Logo of Toshiba Corp is seen outside an electronics retail store in Tokyo

TOKYO (Reuters) - Japanese industrial conglomerate Toshiba Corp reported on Wednesday its first quarterly operating loss in nearly four years as the coronavirus pandemic hit demand for its electronic devices, copiers and chip-making equipment.

The company posted an operating loss of 12.6 billion yen ($118 million) for the April-June quarter, versus a year-before profit of 7.83 billion yen.

The result was worse than an average analyst estimate for a 3.43 billion yen loss compiled by Refinitiv, but in line with Toshiba's own prediction in June that operating losses in the April-September half may total 10 billion to 20 billion yen.

Toshiba last suffered a quarterly operating loss in the October-December quarter of 2016, at the peak of a crisis stemming from the failure of its U.S. nuclear power unit Westinghouse.

ADVERTISEMENT

It maintained its annual profit forecast at 110 billion yen, down 15.7% from the previous year, avoiding a major downward revision thanks to its public infrastructure businesses that are relatively resilient to a global economic slump.

($1 = 106.5100 yen)

(Reporting by Makiko Yamazaki; Editing by Kenneth Maxwell and Muralikumar Anantharaman)