Shulou(Shulou.com)11/24 Report--

CTOnews.com Nov. 11 Toshiba Corp. reported second-quarter earnings Friday. Toshiba's operating profit fell a full 75% in the quarter.

Toshiba's operating profit for the second quarter of the fiscal year ended March 31, 2023 was 2.7 billion yen, down 93.9% year-on-year.

The company reported an operating profit of 7.54 billion yen (about 379 million yuan) for the July-September quarter. The result seems a bit worse than the 36.9 billion yen (about 1.852 billion yuan) agreed by four analysts at Refinitiv.

Toshiba announced that it revised its full-year profit forecast to 125 billion yen. this was down 21.4 percent from the previous 170 billion yen. It was also below the consensus forecast of 11 analysts of 172.2 billion yen. In addition to soaring material prices, temporary expenses such as research and development costs related to semiconductors and carbon neutralization have also increased.

CTOnews.com understands Toshiba closed slightly lower at Y4, 950 yesterday.

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