Toshiba's second-quarter operating profit plunges 75%

Japan's Toshiba Corporation announced its second-quarter earnings on Friday. Toshiba's operating profit fell a full 75% this quarter. In the second quarter of the fiscal year ending March 31, 2023, Toshiba posted an operating profit of 2.7 billion yen, down 93.9% year-on-year.

The company reported an operating profit of 7.54 billion yen for the July-September quarter. The result seems to be a little worse than the 36.9 billion yen agreed upon by four analysts at Refinitiv.

Toshiba announced that it revised its full-year profit forecast to 125 billion yen. , down 21.4% from the previous 170 billion yen. It was also below the 172.2 billion yen consensus forecast by 11 analysts. In addition to soaring material prices, there has also been an increase in temporary expenses such as R&D expenses related to semiconductors and carbon neutrality.

Post a Comment