Coronavirus hit
Toshiba Corp 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 $118 million for the April-June quarter. The result was worse than an average analyst estimatebut in line with Toshiba’s own prediction in June that operating losses in the April-September half may be pants.
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 US nuclear power unit Westinghouse.
It maintained its annual profit forecast as down 15.7 percent from the previous year, avoiding a major downward revision thanks to its public infrastructure businesses that are relatively resilient to a global economic slump.
