Menu
Toshiba posts first quarterly operating loss in almost four years

Toshiba posts first quarterly operating loss in almost four years

The company posted an operating loss of 12.6 billion yen (US$118 million) for the April-June quarter

Credit: Toshiba

Japanese industrial conglomerate Toshiba  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 (US$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.

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

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


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags toshiba

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments