Panasonic (PC): FQ3 net profit ¥61B ($662M) vs a loss of ¥198B last year and consensus for a...

|About: Panasonic Corp. ADR (PCRFY)|By:, SA News Editor

Panasonic (PC): FQ3 net profit ¥61B ($662M) vs a loss of ¥198B last year and consensus for a loss of ¥17B. Operating profit ¥34.6B vs loss of ¥8.1B a year earlier. Sales -8% to ¥1.8T. Earnings boosted by the weakening yen and the massive job cuts that Panasonic has carried out since April. Despite the surprising net profit, the company reiterates its FY forecast for a net loss of ¥765B. (PR) (Management reshuffle)