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Toshiba Reports Losses for Quarter
Feb 04 08:43 am
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All Comments by Honest Corruption »SanDisk: Despite Completing Sale to Toshiba, Still Causing Anxiety [View article]
Stock Quote:
Toshiba on Thursday reported losses for the last quarter, and Nintendo lowered its profit forecast, as the current earnings season revealed the extent of the erosion in corporate and consumer demand.
The figures announced Thursday showed the bulk of the bleeding is taking place in its key electronics division.
Toshiba announced an operating loss of 158.8 billion yen for the quarter, down from a profit of 42.1 billion yen a year earlier, and far worse than analysts had expected.
Toshiba also warned that, for the full year ending March, it now expected an operating loss of 280 billion yen, rather than the 150 billion yen profit it had previously forecast.