Toshiba profits up fivefold in first quarter
Japan's Toshiba Corp said on Friday its net profit jumped more than fivefold in the fiscal first quarter and sharply raised its interim earnings forecast thanks to strong sales of electronic goods.
By Agencies |
TOKYO: Japan's Toshiba Corp said on Friday its net profit jumped more than fivefold in the fiscal first quarter and sharply raised its interim earnings forecast thanks to strong sales of electronic goods.
Toshiba saw solid sales of electronic devices such as flash memory chips used in popular products such as MP3 portable music players, while revenue from power and medical systems also rose sharply.
Net profits rose to 20.6 billion yen ($174 million) in the three months to June, up from 4.0 billion a year earlier, a company statement said.
Operating profit gained a more modest 1.9 per cent to 21.2 billion yen, while revenue rose 14.6 per cent to 1.66 trillion yen.
Toshiba hiked its forecast for net profit for the six months to September from 10 billion yen to 40 billion in light of the strong first quarter, and said it was reviewing its full-year target for net earnings of 120 billion yen.
Toshiba saw solid sales of electronic devices such as flash memory chips used in popular products such as MP3 portable music players, while revenue from power and medical systems also rose sharply.
Net profits rose to 20.6 billion yen ($174 million) in the three months to June, up from 4.0 billion a year earlier, a company statement said.
Operating profit gained a more modest 1.9 per cent to 21.2 billion yen, while revenue rose 14.6 per cent to 1.66 trillion yen.
Toshiba hiked its forecast for net profit for the six months to September from 10 billion yen to 40 billion in light of the strong first quarter, and said it was reviewing its full-year target for net earnings of 120 billion yen.
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